Brookfield Renewable Partners (NYSE:BEP) Rating Increased to Strong-Buy at National Bank Financial

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by stock analysts at National Bank Financial to a “strong-buy” rating in a note issued to investors on Sunday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. CIBC dropped their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a research report on Monday, May 5th. National Bankshares dropped their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Scotiabank lifted their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Brookfield Renewable Partners Stock Up 7.7%

Shares of BEP stock opened at $25.79 on Friday. The stock’s 50 day simple moving average is $22.80 and its 200 day simple moving average is $22.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -28.98 and a beta of 0.98.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The business had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.73 billion. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. As a group, research analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in Brookfield Renewable Partners by 2.3% in the first quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider’s stock worth $373,164,000 after purchasing an additional 374,087 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after buying an additional 1,628,524 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookfield Renewable Partners by 6.3% in the first quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider’s stock valued at $184,904,000 after buying an additional 492,199 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Brookfield Renewable Partners by 4.7% in the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock valued at $160,585,000 after buying an additional 315,272 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Brookfield Renewable Partners by 30.1% in the first quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider’s stock valued at $65,866,000 after buying an additional 689,196 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

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.