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

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

Other equities research analysts have also issued research reports about the company. CIBC upped their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. 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 research note on Wednesday, December 18th. JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Thursday, December 12th. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $23.34 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The firm’s fifty day simple moving average is $25.52 and its 200-day simple moving average is $25.42. The stock has a market cap of $6.65 billion, a PE ratio of -28.46 and a beta of 0.93.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BEP. HB Wealth Management LLC acquired a new stake in shares of Brookfield Renewable Partners during the second quarter worth $941,000. NewGen Asset Management Ltd acquired a new position in Brookfield Renewable Partners during the 2nd quarter valued at about $6,188,000. CIBC Asset Management Inc increased its stake in shares of Brookfield Renewable Partners by 0.6% in the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after purchasing an additional 37,836 shares during the period. Fiera Capital Corp grew its holdings 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 worth $1,040,000 after buying an additional 4,247 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in Brookfield Renewable Partners by 2.9% during 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 acquiring an additional 67,777 shares in the last quarter. Institutional investors 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.