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

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

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. upped their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a neutral rating in a research report on Tuesday, July 16th. Royal Bank of Canada increased their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an outperform rating in a research report on Monday, May 6th. National Bankshares boosted their price target on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an outperform rating in a research report on Friday, July 19th. Raymond James decreased their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a strong-buy rating for the company in a research report on Thursday, April 25th. Finally, Scotiabank boosted their target price on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a sector outperform rating in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $31.42.

Brookfield Renewable Partners Trading Down 0.5 %

Shares of BEP stock opened at $24.06 on Friday. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $28.81. The stock’s fifty day simple moving average is $25.66 and its 200 day simple moving average is $24.56. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $6.86 billion, a P/E ratio of -52.30 and a beta of 0.92.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.24). The firm had revenue of $875.00 million for the quarter, compared to the consensus estimate of $828.39 million. Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. As a group, sell-side analysts predict that Brookfield Renewable Partners will post -0.49 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.90%. Brookfield Renewable Partners’s dividend payout ratio is presently -308.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Nova Scotia raised its position in shares of Brookfield Renewable Partners by 10.7% during the fourth quarter. Bank of Nova Scotia now owns 704,744 shares of the utilities provider’s stock worth $18,515,000 after purchasing an additional 67,964 shares during the period. FIL Ltd raised its holdings in Brookfield Renewable Partners by 37.1% during the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after buying an additional 3,474,522 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Brookfield Renewable Partners by 103.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock valued at $27,214,000 after buying an additional 595,335 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Brookfield Renewable Partners by 7.1% during the fourth quarter. National Bank of Canada FI now owns 1,041,274 shares of the utilities provider’s stock valued at $26,964,000 after buying an additional 68,956 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Brookfield Renewable Partners by 2,229.4% during the first quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 24,412 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

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.