Brookfield Renewable Partners (NYSE:BEP) Upgraded at StockNews.com

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

A number of other brokerages also recently weighed in on BEP. JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, CIBC increased their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $31.89.

Brookfield Renewable Partners Trading Down 1.4 %

Shares of NYSE:BEP opened at $23.51 on Wednesday. The company has a market capitalization of $6.70 billion, a P/E ratio of -28.67 and a beta of 0.93. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. 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 business’s 50 day simple moving average is $25.82 and its 200 day simple moving average is $25.59.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Stifel Financial Corp grew its stake in shares of Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock valued at $880,000 after buying an additional 403 shares during the period. GAMMA Investing LLC grew its stake 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 valued at $27,000 after buying an additional 442 shares during the period. HighTower Advisors LLC grew 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 buying an additional 749 shares during the period. Apollon Wealth Management LLC grew its stake in shares of Brookfield Renewable Partners by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock valued at $394,000 after buying an additional 945 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. 63.16% of the stock is owned by 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.