Brookfield Renewable Partners (NYSE:BEP) Rating Lowered to Neutral at UBS Group

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a report released on Friday, MarketBeat Ratings reports. They currently have a $25.00 price objective on the utilities provider’s stock, down from their prior price objective of $34.00. UBS Group’s target price indicates a potential upside of 2.21% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, November 13th. StockNews.com raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Desjardins decreased their target price on Brookfield Renewable Partners from $43.00 to $39.00 and set a “hold” rating for the company in a research report on Wednesday, October 25th. National Bankshares decreased their target price on Brookfield Renewable Partners from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Monday, November 6th. Finally, Scotiabank decreased their price objective on Brookfield Renewable Partners from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Brookfield Renewable Partners Trading Down 1.8 %

NYSE BEP opened at $24.46 on Friday. The firm has a market capitalization of $7.04 billion, a P/E ratio of -49.92 and a beta of 0.82. The business has a fifty day simple moving average of $22.97 and a 200 day simple moving average of $26.89. Brookfield Renewable Partners has a 12 month low of $19.97 and a 12 month high of $32.76. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Modera Wealth Management LLC bought a new position in shares of Brookfield Renewable Partners in the second quarter worth about $274,000. Nicola Wealth Management LTD. raised its stake in Brookfield Renewable Partners by 6.3% during the 2nd quarter. Nicola Wealth Management LTD. now owns 170,000 shares of the utilities provider’s stock valued at $5,015,000 after purchasing an additional 10,000 shares during the period. Raymond James & Associates raised its stake in Brookfield Renewable Partners by 65.6% during the 1st quarter. Raymond James & Associates now owns 39,316 shares of the utilities provider’s stock valued at $1,239,000 after purchasing an additional 15,575 shares during the period. Bank of Nova Scotia raised its stake in Brookfield Renewable Partners by 15.3% during the 2nd quarter. Bank of Nova Scotia now owns 710,319 shares of the utilities provider’s stock valued at $20,936,000 after purchasing an additional 94,160 shares during the period. Finally, Pacifica Partners Inc. raised its stake in Brookfield Renewable Partners by 3.6% during the 2nd quarter. Pacifica Partners Inc. now owns 12,568 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 441 shares during the period. Institutional investors own 60.36% 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, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.