StockNews.com Downgrades Brookfield Renewable Partners (NYSE:BEP) to Sell

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

BEP has been the subject of a number of other reports. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $31.00 in a report on Monday, September 30th. CIBC boosted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, National Bankshares lowered their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average target price of $31.78.

Brookfield Renewable Partners Stock Down 0.3 %

Shares of NYSE:BEP opened at $23.06 on Thursday. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The firm’s 50 day moving average price is $25.21 and its 200 day moving average price is $25.37. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of -28.12 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter in the previous year, the business posted ($0.14) earnings per share. As a group, equities research analysts predict that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds have recently made changes to their positions in BEP. HB Wealth Management LLC acquired a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $941,000. NewGen Asset Management Ltd purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth approximately $6,188,000. CIBC Asset Management Inc lifted its holdings in shares of Brookfield Renewable Partners by 0.6% during the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock worth $171,010,000 after purchasing an additional 37,836 shares during the period. Fiera Capital Corp grew its position in Brookfield Renewable Partners by 11.2% in the 2nd quarter. Fiera Capital Corp now owns 42,016 shares of the utilities provider’s stock valued at $1,040,000 after buying an additional 4,247 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in Brookfield Renewable Partners by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock valued at $58,805,000 after buying an additional 67,777 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.