Brookfield Renewable Partners (NYSE:BEP) Cut to “Sell” at StockNews.com

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

Other equities research analysts have also issued research reports about the stock. National Bankshares dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, Scotiabank increased their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock traded up $0.38 during midday trading on Tuesday, reaching $23.12. The company had a trading volume of 741,749 shares, compared to its average volume of 883,772. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The firm’s fifty day simple moving average is $22.23 and its 200-day simple moving average is $24.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The company has a market capitalization of $6.59 billion, a P/E ratio of -25.98 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating 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 period in the prior year, the firm earned $0.01 EPS. As a group, equities analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its stake in Brookfield Renewable Partners by 12.2% during the fourth quarter. Toronto Dominion Bank now owns 1,947,783 shares of the utilities provider’s stock worth $44,307,000 after buying an additional 212,321 shares during the period. Royal Bank of Canada lifted its holdings in shares of Brookfield Renewable Partners by 1.3% in the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider’s stock worth $375,248,000 after acquiring an additional 211,467 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Brookfield Renewable Partners by 4.2% during the 4th quarter. Captrust Financial Advisors now owns 25,033 shares of the utilities provider’s stock worth $570,000 after purchasing an additional 1,012 shares during the period. Bank of America Corp DE increased its holdings in Brookfield Renewable Partners by 12.1% in the 4th quarter. Bank of America Corp DE now owns 698,025 shares of the utilities provider’s stock valued at $15,908,000 after purchasing an additional 75,083 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Brookfield Renewable Partners by 20.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,616,911 shares of the utilities provider’s stock valued at $36,849,000 after purchasing an additional 275,612 shares during the period. 63.16% of the stock is currently owned by hedge funds and other 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.