Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday.

According to Zacks, “Brookfield Renewable Energy Partners L.P. owns and operates renewable power platform. The company’s power generating portfolio comprised of hydroelectric generating, wind facilities and natural gas-fired plants. It operates in the United States, Canada and Brazil. The company sells its generation output to public power authorities, load-serving utilities and industrial users. Brookfield Renewable Energy Partners L.P., is based in Hamilton, Bermuda. “

Other analysts have also recently issued research reports about the stock. BMO Capital Markets restated a “hold” rating and set a $35.00 price objective on shares of Brookfield Renewable Partners in a research report on Friday, October 20th. National Bank Financial raised their price objective on shares of Brookfield Renewable Partners from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 18th. CIBC cut shares of Brookfield Renewable Partners from a “sector outperform” rating to a “neutral” rating in a research report on Thursday, November 2nd. Finally, GMP Securities reiterated a “hold” rating and issued a $34.50 target price on shares of Brookfield Renewable Partners in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.39.

Brookfield Renewable Partners (NYSE BEP) traded up $0.05 during trading on Thursday, hitting $33.28. 103,691 shares of the stock traded hands, compared to its average volume of 70,429. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market cap of $6,000.92, a PE ratio of -277.31 and a beta of 0.22. Brookfield Renewable Partners has a 12-month low of $28.13 and a 12-month high of $36.00.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Wednesday, November 1st. The utilities provider reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.07). The company had revenue of $762.30 million for the quarter, compared to analysts’ expectations of $795.58 million. Brookfield Renewable Partners had a net margin of 3.11% and a return on equity of 0.64%. equities research analysts forecast that Brookfield Renewable Partners will post -0.63 EPS for the current year.

Brookfield Renewable Partners declared that its Board of Directors has approved a share repurchase program on Friday, December 22nd that allows the company to repurchase 9,000,000 outstanding shares. This repurchase authorization allows the utilities provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

A number of large investors have recently modified their holdings of BEP. JPMorgan Chase & Co. purchased a new position in Brookfield Renewable Partners in the 2nd quarter worth $109,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Brookfield Renewable Partners in the third quarter valued at about $213,000. Wells Fargo & Company MN increased its position in shares of Brookfield Renewable Partners by 242.2% in the second quarter. Wells Fargo & Company MN now owns 8,972 shares of the utilities provider’s stock valued at $287,000 after acquiring an additional 6,350 shares during the period. Baldwin Investment Management LLC purchased a new position in shares of Brookfield Renewable Partners in the third quarter valued at about $296,000. Finally, Advisory Services Network LLC purchased a new position in shares of Brookfield Renewable Partners in the second quarter valued at about $305,000. Institutional investors own 54.06% of the company’s stock.

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About Brookfield Renewable Partners

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

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