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

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 research note issued to investors on Wednesday.

Other analysts have also issued research reports about the stock. CIBC lifted their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Thursday, December 12th. Finally, UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Stock Down 0.2 %

Shares of Brookfield Renewable Partners stock opened at $22.59 on Wednesday. The company has a fifty day moving average price of $25.69 and a 200 day moving average price of $25.55. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of -27.55 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the previous year, the company earned ($0.14) EPS. Equities research analysts forecast that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BEP. Principal Financial Group Inc. lifted its stake in Brookfield Renewable Partners by 4.5% during the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after purchasing an additional 330,648 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth $28,000. Barclays PLC raised its holdings in shares of Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 2,036 shares during the period. Toronto Dominion Bank lifted its position in shares of Brookfield Renewable Partners by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock worth $48,905,000 after buying an additional 173,882 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Brookfield Renewable Partners by 2.6% in the 3rd quarter. National Bank of Canada FI now owns 1,040,674 shares of the utilities provider’s stock valued at $29,326,000 after buying an additional 25,916 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.