Brookfield Renewable Partners (NYSE:BEP) Stock Rating Lowered by Zacks Research

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on BEP. Wall Street Zen cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. increased their target price on Brookfield Renewable Partners from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Friday, March 27th. National Bank Financial increased their price objective on Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research report on Monday. Finally, Morgan Stanley increased their price objective on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.21.

Brookfield Renewable Partners Price Performance

BEP opened at $34.44 on Tuesday. Brookfield Renewable Partners has a 12-month low of $22.27 and a 12-month high of $35.97. The company has a market cap of $10.44 billion, a price-to-earnings ratio of -111.08 and a beta of 1.06. The stock has a fifty day simple moving average of $32.49 and a two-hundred day simple moving average of $30.18. The company has a current ratio of 0.75, a quick ratio of 0.57 and a debt-to-equity ratio of 0.82.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Research analysts predict that Brookfield Renewable Partners will post -1.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BEP. Goldman Sachs Group Inc. lifted its holdings 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 during the period. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the second quarter valued at about $34,000. Cresset Asset Management LLC lifted its holdings 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 during the period. Diversify Advisory Services LLC bought a new position in Brookfield Renewable Partners in the second quarter valued at about $648,000. Finally, Ameriprise Financial Inc. lifted its holdings 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 during the period. Institutional investors 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.