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

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

Several other equities analysts have also recently issued reports on BEP. National Bankshares decreased their price objective on Brookfield Renewable Partners from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Scotiabank reduced their price target on Brookfield Renewable Partners from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Brookfield Renewable Partners in a report on Monday, November 13th. TD Securities reduced their price target on Brookfield Renewable Partners from $38.00 to $32.00 and set an “action list buy” rating for the company in a report on Wednesday, October 18th. Finally, UBS Group cut Brookfield Renewable Partners from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $34.00 to $25.00 in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock traded up $0.18 on Monday, hitting $24.65. The company had a trading volume of 362,303 shares, compared to its average volume of 369,638. The firm has a market cap of $7.09 billion, a P/E ratio of -50.30 and a beta of 0.82. The company has a 50-day moving average price of $22.97 and a 200-day moving average price of $26.87. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.82. Brookfield Renewable Partners has a twelve month low of $19.97 and a twelve month high of $32.76.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of large investors have recently made changes to their positions in the stock. BROOKFIELD Corp ON grew its position in shares of Brookfield Renewable Partners by 7.5% in the second quarter. BROOKFIELD Corp ON now owns 73,897,686 shares of the utilities provider’s stock valued at $2,179,243,000 after purchasing an additional 5,148,270 shares in the last quarter. Royal Bank of Canada grew its position in shares of Brookfield Renewable Partners by 0.9% in the third quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock valued at $288,107,000 after purchasing an additional 117,246 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Brookfield Renewable Partners by 14.3% in the second quarter. 1832 Asset Management L.P. now owns 10,659,034 shares of the utilities provider’s stock valued at $314,335,000 after purchasing an additional 1,333,635 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Brookfield Renewable Partners by 0.9% in the third quarter. Principal Financial Group Inc. now owns 6,490,296 shares of the utilities provider’s stock valued at $141,099,000 after purchasing an additional 57,177 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Brookfield Renewable Partners in the second quarter worth approximately $186,066,000. 60.36% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.