Brookfield Renewable Partners (NYSE:BEP) Stock Rating Upgraded by StockNews.com

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other brokerages have also recently weighed in on BEP. CIBC lifted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $31.00 in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Stock Performance

BEP opened at $23.78 on Monday. The stock has a market cap of $6.78 billion, a P/E ratio of -28.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The firm has a fifty day moving average price of $26.22 and a 200 day moving average price of $25.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Equities research analysts anticipate that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Renewable Partners in the third quarter valued at $28,000. Waverton Investment Management Ltd purchased a new position in Brookfield Renewable Partners during the third quarter worth about $178,000. Barclays PLC lifted its position in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after buying an additional 2,036 shares during the period. Finally, Creative Planning acquired a new stake in Brookfield Renewable Partners in the 3rd quarter worth about $206,000. 63.16% of the stock is owned by institutional investors and hedge funds.

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.