Brookfield Renewable Partners (NYSE:BEP) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a hold rating to a sell rating in a research note issued to investors on Thursday.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. National Bankshares dropped their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Thursday, December 12th. Finally, CIBC lifted their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $23.12 on Thursday. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The firm’s fifty day moving average price is $25.42 and its 200-day moving average price is $25.41. The stock has a market cap of $6.59 billion, a P/E ratio of -28.19 and a beta of 0.93. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the previous year, the company posted ($0.14) earnings per share. On average, equities research analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 6.14%. Brookfield Renewable Partners’s dividend payout ratio is -173.17%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp lifted its holdings in Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after buying an additional 403 shares during the period. GAMMA Investing LLC raised its position in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Brookfield Renewable Partners by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after purchasing an additional 749 shares during the period. Apollon Wealth Management LLC boosted its position in shares of Brookfield Renewable Partners by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Brookfield Renewable Partners in the third quarter worth $28,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.