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

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

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

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $23.06 on Thursday. The firm has a 50-day simple moving average of $25.21 and a 200-day simple moving average of $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 capitalization of $6.57 billion, a price-to-earnings ratio of -28.12 and a beta of 0.93. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business 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 company posted ($0.14) EPS. On average, equities 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

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after acquiring an additional 330,648 shares during the period. CIBC Asset Management Inc grew its holdings 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 in the last quarter. Bank of Montreal Can increased its stake in Brookfield Renewable Partners by 0.4% during the 3rd quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after buying an additional 26,189 shares during the period. CCLA Investment Management increased its stake in Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after buying an additional 47,734 shares during the period. Finally, TD Asset Management Inc boosted its position 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. 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.