Brookfield Renewable Partners (NYSE:BEP) Upgraded to Sell at Wall Street Zen

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Barclays set a $30.00 target price on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable Partners from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, September 21st. Morgan Stanley dropped their price objective on Brookfield Renewable Partners from $42.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Finally, Desjardins upgraded shares of Brookfield Renewable Partners from a “hold” rating to a “buy” rating in a research report on Thursday. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.73.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $31.12 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.80 and a quick ratio of 0.80. Brookfield Renewable Partners has a 52-week low of $26.30 and a 52-week high of $38.12. The firm has a fifty day moving average of $29.48 and a 200-day moving average of $32.09.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Wednesday, November 4th. The utilities provider reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.02). The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.46 billion. Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. As a group, analysts predict that Brookfield Renewable Partners will post -1.88 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BEP. Bank of Nova Scotia grew its position in shares of Brookfield Renewable Partners by 11.0% in the 1st quarter. Bank of Nova Scotia now owns 1,148,128 shares of the utilities provider’s stock worth $37,444,000 after buying an additional 114,127 shares during the period. TD Waterhouse Canada Inc. lifted its stake in Brookfield Renewable Partners by 1.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,072,131 shares of the utilities provider’s stock valued at $36,939,000 after buying an additional 19,957 shares in the last quarter. Oak Grove Capital LLC increased its holdings in Brookfield Renewable Partners by 71.8% during the 3rd quarter. Oak Grove Capital LLC now owns 1,202,100 shares of the utilities provider’s stock worth $33,827,000 after purchasing an additional 502,300 shares during the last quarter. Bank of America Corp DE boosted its stake in Brookfield Renewable Partners by 413.2% during the 1st quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider’s stock valued at $31,767,000 after purchasing an additional 783,620 shares in the last quarter. Finally, First Trust Capital Management L.P. acquired a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at about $5,679,000. 63.16% of the stock is owned by institutional investors.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a global renewable power and sustainable solutions company. The partnership develops, owns and operates a diversified portfolio of renewable energy facilities, with hydroelectric generation complemented by onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy transition assets.

Through its operating platforms, Brookfield Renewable supplies electricity and related energy services to utilities, corporations and other customers.