Brookfield Renewable Partners (NYSE:BEP) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Brookfield Renewable Partners from “strong sell” to “sell.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $36.73.
• The company reported quarterly EPS of ($0.52), missing estimates of ($0.50), while revenue of $1.78 billion exceeded the $1.46 billion consensus estimate.
• Shares opened at $31.12, within a 52-week range of $26.30 to $38.12.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also weighed in on BEP. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research report on Monday, September 21st. Zacks Research upgraded shares of Brookfield Renewable Partners from a "strong sell" rating to a "hold" rating in a research report on Friday, August 14th. Morgan Stanley cut their price target on Brookfield Renewable Partners from $42.00 to $37.00 and set an "overweight" rating on the stock in a report on Tuesday, October 13th. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Renewable Partners from $36.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, October 19th. Finally, Barclays set a $30.00 target price on shares of Brookfield Renewable Partners and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.73.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $31.12 on Friday. Brookfield Renewable Partners has a 52 week low of $26.30 and a 52 week high of $38.12. The firm's 50 day moving average is $29.48 and its two-hundred day moving average is $32.09. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its earnings results on Wednesday, November 4th. The utilities provider reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.50) by ($0.02). Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.46 billion. On average, analysts predict that Brookfield Renewable Partners will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

Several institutional investors have recently added to or reduced their stakes in the stock. BCV Asset Management Inc. grew its position in Brookfield Renewable Partners by 11.1% in the third quarter. BCV Asset Management Inc. now owns 75,442 shares of the utilities provider's stock valued at $2,139,000 after acquiring an additional 7,553 shares in the last quarter. Financial Freedom LLC acquired a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $36,000. First Trust Capital Management L.P. purchased a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $5,679,000. Allworth Financial LP grew its stake in shares of Brookfield Renewable Partners by 48.8% in the 3rd quarter. Allworth Financial LP now owns 7,285 shares of the utilities provider's stock worth $205,000 after buying an additional 2,390 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Brookfield Renewable Partners by 19.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 97,305 shares of the utilities provider's stock valued at $2,747,000 after buying an additional 15,860 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. is a global renewable power and sustainable solutions company. The partnership develops, owns and operates a diversified portfolio of renewable energy facilities, with hydroelectric generation complemented by onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy transition assets.

Through its operating platforms, Brookfield Renewable supplies electricity and related energy services to utilities, corporations and other customers.

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