Wall Street Zen Downgrades Brookfield Renewable Partners (NYSE:BEP) to Sell

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other equities analysts have also commented on BEP. JPMorgan Chase & Co. increased their target price on Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Mizuho set a $31.00 target price on Brookfield Renewable Partners and gave the company a “neutral” rating in a report on Monday, February 2nd. Morgan Stanley increased their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Zacks Research raised Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Finally, National Bank Financial increased their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.93.

Brookfield Renewable Partners Stock Down 0.1%

Brookfield Renewable Partners stock opened at $33.33 on Friday. Brookfield Renewable Partners has a twelve month low of $22.17 and a twelve month high of $35.97. The stock’s fifty day simple moving average is $32.40 and its 200-day simple moving average is $30.10. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $10.11 billion, a P/E ratio of -107.51 and a beta of 1.06.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.59%. As a group, equities 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

Several large investors have recently bought and sold shares of BEP. Goldman Sachs Group Inc. boosted its stake in Brookfield Renewable Partners by 57.0% in the first quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider’s stock valued at $20,380,000 after acquiring an additional 333,789 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Brookfield Renewable Partners in the second quarter valued at $34,000. Cresset Asset Management LLC boosted its stake in Brookfield Renewable Partners by 42.8% in the second quarter. Cresset Asset Management LLC now owns 20,031 shares of the utilities provider’s stock valued at $511,000 after acquiring an additional 6,000 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in Brookfield Renewable Partners in the second quarter valued at $648,000. Finally, Ameriprise Financial Inc. boosted its stake in Brookfield Renewable Partners by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 1,490,603 shares of the utilities provider’s stock valued at $38,025,000 after acquiring an additional 62,774 shares in 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. 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.