Brookfield Renewable Partners (NYSE:BEP) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a note issued to investors on Friday. The firm set a “sell” rating on the utilities provider’s stock.

Several other equities analysts have also recently weighed in on BEP. TD Securities raised their price target on Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. CIBC raised their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Raymond James decreased their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 25th. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 28th. Finally, BMO Capital Markets upped their target price on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.17.

Brookfield Renewable Partners Price Performance

BEP stock opened at $24.71 on Friday. The company has a market capitalization of $7.04 billion, a PE ratio of -53.72 and a beta of 0.94. The company’s fifty day moving average price is $25.32 and its 200-day moving average price is $24.82. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $30.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.24). Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The company had revenue of $875.00 million for the quarter, compared to the consensus estimate of $828.39 million. On average, equities analysts anticipate that Brookfield Renewable Partners will post -0.49 EPS for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its position in Brookfield Renewable Partners by 8.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock valued at $248,000 after buying an additional 750 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Brookfield Renewable Partners by 0.9% in the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock valued at $2,017,000 after purchasing an additional 768 shares during the period. Tidal Investments LLC grew its stake in Brookfield Renewable Partners by 2.5% in the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock worth $866,000 after purchasing an additional 894 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 900 shares in the last quarter. Finally, SFE Investment Counsel increased its holdings in Brookfield Renewable Partners by 2.1% during the 4th quarter. SFE Investment Counsel now owns 48,281 shares of the utilities provider’s stock worth $1,269,000 after purchasing an additional 1,000 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Company Profile

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.