Zacks Research Downgrades Brookfield Renewable Partners (NYSE:BEP) to Hold
by Teresa Graham · The Cerbat GemBrookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.
Other analysts have also recently issued research reports about the company. Barclays set a $28.00 target price on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Friday, January 23rd. TD Securities reiterated a “buy” rating and issued a $39.00 target price on shares of Brookfield Renewable Partners in a research note on Monday. Morgan Stanley increased their price target on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Mizuho set a $31.00 price target on shares of Brookfield Renewable Partners and gave the company a “neutral” rating in a report on Monday, February 2nd. Finally, TD boosted their price objective on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.21.
View Our Latest Stock Report on Brookfield Renewable Partners
Brookfield Renewable Partners Trading Down 1.2%
Brookfield Renewable Partners stock traded down $0.42 during trading hours on Tuesday, hitting $34.07. The company had a trading volume of 19,280 shares, compared to its average volume of 765,714. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.57 and a current ratio of 0.75. The firm has a market cap of $10.33 billion, a P/E ratio of -109.42 and a beta of 1.06. The company has a 50-day moving average price of $32.49 and a two-hundred day moving average price of $30.18. Brookfield Renewable Partners has a 1 year low of $22.37 and a 1 year high of $35.97.
Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last posted its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. On average, sell-side analysts anticipate that Brookfield Renewable Partners will post -1.18 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Kelleher Financial Advisors acquired a new position in Brookfield Renewable Partners during the third quarter valued at $26,000. Russell Investments Group Ltd. acquired a new stake in Brookfield Renewable Partners during the 2nd quarter worth about $34,000. CENTRAL TRUST Co purchased a new position in shares of Brookfield Renewable Partners during the 1st quarter valued at about $55,000. Root Financial Partners LLC purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at about $46,000. Finally, Triumph Capital Management purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $55,000. Hedge funds and other 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.