Brookfield Renewable Partners (NYSE:BEP) Receives New Coverage from Analysts at StockNews.com

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

Several other equities research analysts have also recently weighed in on BEP. Desjardins reduced their price objective on Brookfield Renewable Partners from C$46.00 to C$44.00 in a research report on Monday, January 23rd. National Bankshares decreased their target price on Brookfield Renewable Partners from $33.00 to $31.00 in a research report on Tuesday, March 7th. Finally, Raymond James cut their price objective on Brookfield Renewable Partners from $42.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, January 26th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.00.

Brookfield Renewable Partners Trading Down 1.2 %

BEP opened at $28.80 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.85 and a quick ratio of 0.85. Brookfield Renewable Partners has a 12-month low of $24.13 and a 12-month high of $41.95. The firm’s fifty day moving average price is $27.88 and its 200 day moving average price is $29.59. The stock has a market capitalization of $7.93 billion, a PE ratio of -48.00 and a beta of 0.79.

Brookfield Renewable Partners (NYSE:BEP – Get Rating) (TSE:BEP) last announced its earnings results on Friday, February 3rd. The utilities provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.12). Brookfield Renewable Partners had a net margin of 2.93% and a return on equity of 0.60%. The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $662.64 million. As a group, research analysts expect that Brookfield Renewable Partners will post 0.12 EPS for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently bought and sold shares of BEP. 1832 Asset Management L.P. lifted its position in Brookfield Renewable Partners by 8.7% in the 4th quarter. 1832 Asset Management L.P. now owns 7,954,595 shares of the utilities provider’s stock worth $201,569,000 after buying an additional 634,671 shares during the last quarter. Bank of Montreal Can lifted its holdings in Brookfield Renewable Partners by 8.4% in the third quarter. Bank of Montreal Can now owns 6,722,986 shares of the utilities provider’s stock valued at $247,844,000 after acquiring an additional 523,228 shares during the period. Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 6,333,427 shares of the utilities provider’s stock worth $160,489,000 after buying an additional 122,390 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Brookfield Renewable Partners by 119.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,847,621 shares of the utilities provider’s stock worth $122,735,000 after purchasing an additional 2,638,541 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Brookfield Renewable Partners by 2.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,895,330 shares of the utilities provider’s stock valued at $98,640,000 after buying an additional 85,930 shares in the last quarter. 57.61% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Renewable Partners

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Brookfield Renewable Partners LP engages in owning a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China.. It operates through following segments: Hydroelectric, Wind, Solar, Energy Transition, and Corporate. The Energy Transition segment distributes generation, pumped storage, cogeneration, and biomass.