Brookfield Renewable Partners (NYSE:BEP) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a hold rating to a sell rating in a report issued on Thursday morning.

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

Brookfield Renewable Partners Stock Down 0.3 %

Shares of NYSE:BEP opened at $23.06 on Thursday. The company’s fifty day moving average is $25.21 and its 200-day moving average is $25.36. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a market capitalization of $6.57 billion, a PE ratio of -28.12 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results 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). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same period in the prior year, the business earned ($0.14) earnings per share. Equities research analysts predict that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 6.16%. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of BEP. Principal Financial Group Inc. increased its stake in Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after buying an additional 330,648 shares during the last quarter. CIBC Asset Management Inc boosted its position in Brookfield Renewable Partners by 0.6% during the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after purchasing an additional 37,836 shares during the last quarter. Bank of Montreal Can grew its stake in Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after purchasing an additional 26,189 shares in the last quarter. CCLA Investment Management increased its position in shares of Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after purchasing an additional 47,734 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Brookfield Renewable Partners by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after purchasing an additional 67,777 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.