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

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

BEP has been the topic of a number of other reports. 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 Monday. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Scotiabank cut their price objective on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $30.60.

Brookfield Renewable Partners Trading Up 3.3 %

Shares of Brookfield Renewable Partners stock opened at $21.63 on Monday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The stock has a market cap of $6.17 billion, a P/E ratio of -24.30 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $22.93 and its 200-day simple moving average is $24.69.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter last year, the firm posted $0.01 EPS. Analysts predict that Brookfield Renewable Partners will post -0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BEP. GAMMA Investing LLC boosted its holdings in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $28,000. Allworth Financial LP purchased a new stake in Brookfield Renewable Partners in the fourth quarter valued at $68,000. Waverton Investment Management Ltd acquired a new position in Brookfield Renewable Partners in the third quarter valued at $178,000. Finally, Barclays PLC grew its holdings in shares of Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 2,036 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

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.