Brookfield Renewable Partners (NYSE:BEP) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Brookfield Renewable Partners (NYSE:BEPGet Rating) (TSE:BEP) from a hold rating to a sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Brookfield Renewable Energy Partners L.P. owns and operates renewable power platform. The company’s power generating portfolio comprised of hydroelectric generating, wind facilities and natural gas-fired plants. It operates in the United States, Canada and Brazil. The company sells its generation output to public power authorities, load-serving utilities and industrial users. Brookfield Renewable Energy Partners L.P., is based in Hamilton, Bermuda. “

BEP has been the subject of several other research reports. UBS Group started coverage on Brookfield Renewable Partners in a report on Monday, March 28th. They issued a buy rating and a $46.00 price objective for the company. StockNews.com started coverage on Brookfield Renewable Partners in a report on Thursday, March 31st. They issued a hold rating for the company. Industrial Alliance Securities cut Brookfield Renewable Partners from a buy rating to a hold rating in a report on Friday, March 25th. Raymond James set a $42.00 price objective on Brookfield Renewable Partners and gave the company an outperform rating in a report on Monday, May 9th. Finally, Wells Fargo & Company reduced their price target on Brookfield Renewable Partners from $46.00 to $40.00 in a report on Thursday, February 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Buy and an average target price of $42.67.

Shares of BEP opened at $34.15 on Wednesday. The stock has a 50-day moving average of $38.21 and a two-hundred day moving average of $36.32. Brookfield Renewable Partners has a one year low of $30.93 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.89 and a current ratio of 0.58. The stock has a market cap of $9.40 billion, a P/E ratio of -55.08 and a beta of 0.73.

Brookfield Renewable Partners (NYSE:BEPGet Rating) (TSE:BEP) last issued its quarterly earnings results on Monday, May 9th. The utilities provider reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Brookfield Renewable Partners had a negative return on equity of 0.70% and a negative net margin of 3.59%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.24) EPS. Analysts predict that Brookfield Renewable Partners will post -0.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Tuesday, May 31st will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Friday, May 27th. Brookfield Renewable Partners’s dividend payout ratio is presently -206.45%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in Brookfield Renewable Partners by 36.4% during the first quarter. Principal Financial Group Inc. now owns 5,673,217 shares of the utilities provider’s stock worth $232,999,000 after purchasing an additional 1,513,472 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Brookfield Renewable Partners by 23.7% in the fourth quarter. 1832 Asset Management L.P. now owns 6,325,282 shares of the utilities provider’s stock valued at $224,076,000 after acquiring an additional 1,211,969 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of Brookfield Renewable Partners by 1,466.1% in the fourth quarter. Select Equity Group L.P. now owns 1,134,275 shares of the utilities provider’s stock valued at $40,596,000 after acquiring an additional 1,061,850 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Brookfield Renewable Partners by 41.1% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,498,260 shares of the utilities provider’s stock valued at $125,402,000 after acquiring an additional 1,018,289 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Brookfield Renewable Partners in the fourth quarter valued at $34,984,000. Hedge funds and other institutional investors own 55.98% of the company’s stock.

Brookfield Renewable Partners Company Profile (Get Rating)

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

Further Reading

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