Brookfield Renewable Partners (NYSE:BEP) Upgraded at StockNews.com

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

Several other analysts have also recently commented on the company. CIBC raised their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded 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 report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Buy” and an average price target of $31.78.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $22.59 on Wednesday. The firm has a fifty day moving average of $25.69 and a 200-day moving average of $25.55. The company has a market cap of $6.44 billion, a price-to-earnings ratio of -27.55 and a beta of 0.93. 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 1 year low of $19.92 and a 1 year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same period in the previous year, the firm earned ($0.14) earnings per share. As a group, equities 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

Hedge funds have recently made changes to their positions in the business. Intact Investment Management Inc. acquired a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $42,331,000. Triasima Portfolio Management inc. acquired a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at $16,936,000. Liontrust Investment Partners LLP bought a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth $14,862,000. Principal Financial Group Inc. boosted its stake in shares of Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after acquiring an additional 330,648 shares in the last quarter. Finally, Mirabella Financial Services LLP grew its holdings in shares of Brookfield Renewable Partners by 145.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after acquiring an additional 276,374 shares during the last quarter. Institutional investors and hedge funds 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.