Brookfield Renewable Partners (NYSE:BEP) Downgraded to Sell Rating by StockNews.com

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

Several other brokerages have also recently commented on BEP. National Bankshares cut their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. lowered 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 reissued an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. CIBC lowered their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Finally, Scotiabank increased their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Trading Up 1.7 %

Shares of NYSE BEP opened at $23.12 on Tuesday. The company’s fifty day moving average is $22.23 and its 200-day moving average is $24.50. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of -25.98 and a beta of 0.95. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping 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 last year, the firm posted $0.01 earnings per share. Equities research analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.

Institutional Trading of Brookfield Renewable Partners

Several large investors have recently made changes to their positions in BEP. Creative Planning acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $206,000. Private Advisor Group LLC boosted its position in shares of Brookfield Renewable Partners by 47.8% during the 3rd quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 10,521 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $4,880,000. Arkadios Wealth Advisors acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $272,000. Finally, SFE Investment Counsel boosted its position in shares of Brookfield Renewable Partners by 3.4% during the 3rd quarter. SFE Investment Counsel now owns 53,708 shares of the utilities provider’s stock worth $1,513,000 after acquiring an additional 1,781 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.