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Bullboard - Stock Discussion Forum Brookfield Renewable Partners Non Voting Units BEP

Alternate Symbol(s):  T.BEP.UN | BRENF | T.BEP.PR.G | T.BEP.PR.M | T.BEP.PR.R

Brookfield Renewable Partners L.P. is a Bermuda-based globally diversified, multi-technology, owner and operator of clean energy and sustainable solutions assets. The Company’s segments include hydroelectric, wind, utility-scale solar and distributed energy, and storage, which includes distributed generation and pumped storage, sustainable solutions, and corporate. Its sustainable solutions... see more

NYSE:BEP - Post Discussion

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Post by retiredcf on Feb 10, 2022 8:06am

Wells Fargo

Wells Fargo analyst Jonathan Reeder cut his target for Brookfield Renewable Corp. to US$43 from US$50 with an “overweight” rating and Brookfield Renewable Partners LP (BEP-N, BEP.UN-T) to US$40 from US$46 also with an “overweight” recommendation. The averages are US$45 and US$40.96, respectively.

“We reiterate our Overweight ratings on units of BEP and shares of BEPC following a thorough scrub of our model assumptions following BEP’s YE’21 report,” he said. “While our modifications resulted in some near-term upside to our FFO estimates, our outer-year estimates did not change. We continue to be attracted to Brookfield Renewable’s long-term global decarbonization-levered growth prospects and view recent underperformance as providing an attractive entry point for longer-term investors, particularly those with ESG mandates. That said, in the nearer-term, BEP unit and BEPC share price performance many be driven more by macro factors, namely interest rate concerns. We lower our 12-18 month DDM-based price targets down to $40/unit from $46 for BEP and $43/share from $50 for BEPC. Key changes to our DDM assumptions include (1) extending 5-per-cent annual distribution growth assumption out through ‘25 and (2) increasing our discount rate to 8 per cent vs. 7 per cent previously.”

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