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

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other equities analysts have also recently issued reports on the company. National Bankshares decreased their price objective on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Scotiabank lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Stock Up 1.7 %

BEP traded up $0.38 during trading hours on Tuesday, hitting $23.12. 741,749 shares of the company’s stock were exchanged, compared to its average volume of 883,772. The firm has a market cap of $6.59 billion, a P/E ratio of -25.98 and a beta of 0.95. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $22.23 and a 200 day moving average of $24.50.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping 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. Analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp boosted its position in shares of Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock valued at $880,000 after purchasing an additional 403 shares during the period. Jones Financial Companies Lllp lifted its stake in Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after buying an additional 537 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Brookfield Renewable Partners by 3.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider’s stock valued at $550,000 after buying an additional 724 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Brookfield Renewable Partners by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider’s stock valued at $597,000 after acquiring an additional 725 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Brookfield Renewable Partners by 1.6% during the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after acquiring an additional 749 shares during the last quarter. Institutional investors and hedge funds 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.