Brookfield Renewable Partners (NYSE:BEP) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a buy rating to a hold rating in a research note published on Wednesday morning.

BEP has been the subject of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Scotiabank reduced their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. CIBC decreased their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. Finally, National Bankshares decreased their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Brookfield Renewable Partners presently has an average rating of “Buy” and a consensus target price of $30.40.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $22.22 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The business’s fifty day moving average price is $22.48 and its two-hundred day moving average price is $24.59. The stock has a market cap of $6.34 billion, a PE ratio of -24.97 and a beta of 0.95. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data 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 return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter last year, the company earned $0.01 EPS. On average, analysts forecast that Brookfield Renewable Partners will post -0.99 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 6.71%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners’s payout ratio is -159.55%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several large investors have recently made changes to their positions in BEP. CCLA Investment Management lifted its holdings in shares of Brookfield Renewable Partners by 1.9% during the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after acquiring an additional 49,553 shares in the last quarter. Abel Hall LLC acquired a new position in shares of Brookfield Renewable Partners during the fourth quarter worth about $456,000. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $42,331,000. MAI Capital Management grew its stake in shares of Brookfield Renewable Partners by 294.2% in the third quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock valued at $2,443,000 after buying an additional 64,695 shares in the last quarter. Finally, Mirabella Financial Services LLP raised its holdings in shares of Brookfield Renewable Partners by 145.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after buying an additional 276,374 shares during the period. 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.