Brookfield Renewable Partners (NYSE:BEP) Now Covered by Barclays

Analysts at Barclays initiated coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a report issued on Wednesday,Briefing.com Automated Import reports. The firm set an “equal weight” rating on the utilities provider’s stock.

Other equities research analysts have also issued research reports about the company. National Bankshares lowered their price objective on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company decreased their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Brookfield Renewable Partners Price Performance

Shares of BEP stock opened at $22.50 on Wednesday. The firm has a fifty day simple moving average of $22.38 and a 200-day simple moving average of $24.17. The company has a market capitalization of $6.41 billion, a PE ratio of -25.28 and a beta of 1.02. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the previous year, the company posted $0.01 earnings per share. Equities research analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

Hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc increased its position in Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after buying an additional 1,628,524 shares during the period. AGF Management Ltd. boosted its holdings in shares of Brookfield Renewable Partners by 3,234.7% during the fourth quarter. AGF Management Ltd. now owns 1,588,410 shares of the utilities provider’s stock valued at $36,681,000 after acquiring an additional 1,540,777 shares during the period. National Bank of Canada FI grew its position in shares of Brookfield Renewable Partners by 102.4% during the fourth quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider’s stock worth $48,023,000 after acquiring an additional 1,065,590 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Brookfield Renewable Partners by 31.8% in the 4th quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider’s stock worth $53,263,000 after acquiring an additional 564,515 shares during the period. Finally, Principal Financial Group Inc. lifted its position 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 purchasing an additional 330,648 shares during 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.