Brookfield Renewable Partners (NYSE:BEP) Upgraded by StockNews.com to Hold Rating

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday. Scotiabank dropped their target price on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday. National Bankshares dropped their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Finally, CIBC dropped their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research report on Monday. One equities 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 data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $30.60.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded down $0.97 during trading on Monday, hitting $20.92. 1,793,700 shares of the stock traded hands, compared to its average volume of 1,085,776. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56. The firm’s fifty day moving average is $23.03 and its 200-day moving average is $24.71. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of -23.51 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period last year, the firm earned $0.01 earnings per share. Research analysts expect that Brookfield Renewable Partners will post -0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its stake in 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. lifted its position in Brookfield Renewable Partners by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after buying an additional 246,163 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Brookfield Renewable Partners by 0.4% in the 3rd quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after buying an additional 26,189 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Brookfield Renewable Partners by 4.4% during the 4th quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock valued at $62,647,000 after acquiring an additional 116,593 shares during the last quarter. Finally, CCLA Investment Management lifted its position in 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 worth $59,838,000 after acquiring an additional 49,553 shares during the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

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.