Brookfield Renewable Partners (NYSE:BEP) Stock Rating Lowered by Zacks Research

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. National Bank Financial boosted their price objective on Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research report on Monday. Morgan Stanley boosted their price objective on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. TD Securities reiterated a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and a consensus target price of $37.21.

Brookfield Renewable Partners Stock Up 2.2%

Shares of NYSE BEP opened at $34.44 on Tuesday. Brookfield Renewable Partners has a 12 month low of $22.27 and a 12 month high of $35.97. The company has a current ratio of 0.75, a quick ratio of 0.57 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of -111.08 and a beta of 1.06. The business has a 50-day moving average of $32.49 and a 200-day moving average of $30.18.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Sell-side analysts expect that Brookfield Renewable Partners will post -1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently added to or reduced their stakes in BEP. Kelleher Financial Advisors bought a new position in Brookfield Renewable Partners in the third quarter worth $26,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the second quarter worth $34,000. Root Financial Partners LLC bought a new position in Brookfield Renewable Partners in the third quarter worth $46,000. Triumph Capital Management bought a new position in Brookfield Renewable Partners in the third quarter worth $55,000. Finally, CENTRAL TRUST Co bought a new position in Brookfield Renewable Partners in the first quarter worth $55,000. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.