Brookfield Renewable Partners (NYSE:BEP) Upgraded to “Hold” at Wall Street Zen

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

BEP has been the subject of a number of other research reports. Morgan Stanley reissued an “overweight” rating and issued a $38.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. National Bank Financial lifted their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, December 29th. UBS Group reiterated a “buy” rating and set a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Finally, Mizuho set a $31.00 price target on shares of Brookfield Renewable Partners and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average price target of $34.93.

Brookfield Renewable Partners Trading Up 0.0%

Shares of BEP stock opened at $30.28 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 0.80. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $32.78. The firm’s 50 day moving average price is $29.54 and its two-hundred day moving average price is $28.17. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of -116.47 and a beta of 1.13.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. On average, analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds have recently made changes to their positions in BEP. BROOKFIELD Corp ON grew its position in Brookfield Renewable Partners by 9.4% in the 4th quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after buying an additional 6,967,670 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of Brookfield Renewable Partners by 128.0% during the 4th quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock worth $131,265,000 after buying an additional 2,732,542 shares in the last quarter. Bank of Montreal Can raised its position in shares of Brookfield Renewable Partners by 20.3% during the 4th quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock worth $226,859,000 after buying an additional 1,415,989 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 16.2% in the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after acquiring an additional 1,414,837 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Brookfield Renewable Partners by 41.9% in the 4th quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock worth $108,663,000 after acquiring an additional 1,189,130 shares during the period. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.