Brookfield Renewable Partners (NYSE:BEP) Stock Rating Lowered by StockNews.com

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

BEP has been the topic of a number of other reports. CIBC dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. National Bankshares dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday. Scotiabank lowered their price objective on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $30.40.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $22.04 on Wednesday. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The firm’s fifty day simple moving average is $22.55 and its 200-day simple moving average is $24.61. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of -24.76 and a beta of 0.95. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the prior year, the business posted $0.01 EPS. Equities analysts forecast that Brookfield Renewable Partners will post -0.99 EPS for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC raised its position in Brookfield Renewable Partners by 32.8% during the fourth quarter. LPL Financial LLC now owns 57,514 shares of the utilities provider’s stock worth $1,311,000 after acquiring an additional 14,194 shares during the last quarter. Guardian Partners Inc. purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth about $1,504,000. Northwest & Ethical Investments L.P. grew its holdings in shares of Brookfield Renewable Partners by 2.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 82,025 shares of the utilities provider’s stock worth $1,867,000 after buying an additional 1,722 shares in the last quarter. Zevin Asset Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth about $216,000. Finally, Aviso Financial Inc. grew its holdings in shares of Brookfield Renewable Partners by 21.3% during the fourth quarter. Aviso Financial Inc. now owns 8,841 shares of the utilities provider’s stock worth $201,000 after buying an additional 1,553 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.