Brookfield Renewable Partners (NYSE:BEP) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a hold rating to a sell rating in a research note released on Thursday.

BEP has been the subject of a number of other research reports. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research note on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. National Bankshares dropped their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. CIBC raised their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Price Performance

BEP opened at $23.12 on Thursday. 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 firm’s fifty day moving average price is $25.42 and its two-hundred day moving average price is $25.41. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of -28.19 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced 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 analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the previous year, the firm earned ($0.14) EPS. As a group, analysts anticipate that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is currently -173.17%.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Intact Investment Management Inc. purchased a new position in Brookfield Renewable Partners during the 3rd quarter valued at about $42,331,000. Triasima Portfolio Management inc. bought a new position in shares of Brookfield Renewable Partners in the second quarter valued at approximately $16,936,000. Principal Financial Group Inc. grew its stake in Brookfield Renewable Partners by 4.5% during the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after acquiring an additional 330,648 shares in the last quarter. Mirabella Financial Services LLP grew its stake in Brookfield Renewable Partners by 145.2% during the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after acquiring an additional 276,374 shares in the last quarter. Finally, NewGen Asset Management Ltd bought a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $6,188,000. 63.16% of the stock is currently owned by institutional investors.

About Brookfield Renewable Partners

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.