Brookfield Renewable Partners' (BEP) Sell (D+) Rating Reaffirmed at Weiss Ratings

Key Points

• Brookfield Renewable Partners' stock continues to hold a "sell (D+)" rating as reaffirmed by Weiss Ratings, reflecting concerns regarding the company's performance.
• Recent analyst activity has resulted in ratings ranging from "strong buy" to "sell," with a consensus target price of $30.33, indicating a mixed outlook on the stock.
• The company experienced a missed earnings report, with EPS of ($0.22) against an expectation of ($0.19), while reporting revenues of $1.69 billion, exceeding forecasts.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP's stock had its "sell (d+)" rating restated by Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Several other analysts have also commented on BEP. Raymond James Financial lowered shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Mizuho increased their target price on Brookfield Renewable Partners from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, September 26th. CIBC reissued an "outperform" rating and issued a $33.00 price target on shares of Brookfield Renewable Partners in a report on Tuesday. National Bankshares upped their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Brookfield Renewable Partners currently has an average rating of "Moderate Buy" and a consensus target price of $30.33.

Brookfield Renewable Partners Price Performance

BEP stock traded up $0.71 during midday trading on Friday, hitting $29.32. 544,103 shares of the stock were exchanged, compared to its average volume of 621,575. The stock's 50-day moving average price is $26.10 and its 200-day moving average price is $25.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of -30.86 and a beta of 1.13. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $29.32.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. Research analysts predict that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors and hedge funds have recently bought and sold shares of BEP. Cambridge Investment Research Advisors Inc. grew its stake in shares of Brookfield Renewable Partners by 16.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider's stock valued at $574,000 after buying an additional 3,722 shares during the period. Golden State Wealth Management LLC grew its position in Brookfield Renewable Partners by 103.6% during the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 579 shares during the period. Gold Investment Management Ltd. increased its stake in Brookfield Renewable Partners by 14.0% during the first quarter. Gold Investment Management Ltd. now owns 92,348 shares of the utilities provider's stock worth $2,045,000 after acquiring an additional 11,354 shares during the last quarter. DAVENPORT & Co LLC increased its stake in Brookfield Renewable Partners by 1.7% during the first quarter. DAVENPORT & Co LLC now owns 370,545 shares of the utilities provider's stock worth $8,218,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Rossby Financial LCC purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter worth about $41,000. 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.

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