Brookfield Renewable Partners (NYSE:BEP) Stock Rating Lowered by Raymond James Financial

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by analysts at Raymond James Financial from a “strong-buy” rating to a “moderate buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on BEP. CIBC reduced their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating for the company in a report on Monday, May 5th. Barclays started coverage on Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price objective for the company. National Bank Financial raised Brookfield Renewable Partners to a “strong-buy” rating in a research report on Sunday, June 8th. Finally, Wells Fargo & Company reduced their price objective on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.67.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $27.19 on Thursday. The stock has a fifty day moving average price of $25.14 and a two-hundred day moving average price of $23.22. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $7.72 billion, a P/E ratio of -26.92 and a beta of 0.99. Brookfield Renewable Partners has a 1 year low of $19.29 and a 1 year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). The business had revenue of $907.00 million during the quarter, compared to analysts’ expectations of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. Research analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently added to or reduced their stakes in BEP. Golden State Wealth Management LLC boosted its holdings in Brookfield Renewable Partners by 103.6% during the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 579 shares in the last quarter. Rossby Financial LCC acquired a new stake in Brookfield Renewable Partners during the first quarter valued at approximately $41,000. NBC Securities Inc. acquired a new stake in Brookfield Renewable Partners during the first quarter valued at approximately $42,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Brookfield Renewable Partners by 136.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,576 shares in the last quarter. Finally, Trifecta Capital Advisors LLC acquired a new stake in Brookfield Renewable Partners during the first quarter valued at approximately $69,000. 63.16% of the stock is owned by institutional investors and hedge funds.

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.