Brookfield Renewable Partners (NYSE:BEP) Cut to Sell at Wall Street Zen

Key Points

• Brookfield Renewable Partners (BEP) was downgraded by Wall Street Zen from a "hold" to a sell rating.
• Analyst coverage is mixed — one Strong Buy, 11 Buys and 4 Holds — resulting in an average rating of Moderate Buy and an average price target of $35.93.
• BEP reported Q1 EPS of ($0.40), missing the ($0.26) consensus while revenue was roughly in line at $1.51 billion; the stock trades near $33.33 with a 52‑week range of $22.17–$35.97 and a market cap of about $10.1 billion.

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

Several other research analysts have also recently weighed in on BEP. Barclays set a $28.00 price target on shares of Brookfield Renewable Partners and gave the stock an "equal weight" rating in a report on Friday, January 23rd. Zacks Research upgraded shares of Brookfield Renewable Partners from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $40.00 price target (up from $37.00) on shares of Brookfield Renewable Partners in a report on Monday, April 20th. Mizuho set a $31.00 price target on shares of Brookfield Renewable Partners and gave the stock a "neutral" rating in a report on Monday, February 2nd. Finally, Morgan Stanley lifted their price objective on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $35.93.

Brookfield Renewable Partners Stock Up 0.7%

Brookfield Renewable Partners stock opened at $33.33 on Friday. Brookfield Renewable Partners has a fifty-two week low of $22.17 and a fifty-two week high of $35.97. The stock has a market cap of $10.11 billion, a PE ratio of -128.18 and a beta of 1.07. The firm's 50-day simple moving average is $32.40 and its 200 day simple moving average is $30.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.14). Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%.The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. Research analysts predict that Brookfield Renewable Partners will post -0.87 EPS for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds have recently added to or reduced their stakes in BEP. Kelleher Financial Advisors bought a new stake in Brookfield Renewable Partners in the third quarter worth about $26,000. Russell Investments Group Ltd. bought a new stake in Brookfield Renewable Partners in the second quarter worth about $34,000. Root Financial Partners LLC purchased a new position in shares of Brookfield Renewable Partners in the third quarter worth about $46,000. Triumph Capital Management purchased a new position in shares of Brookfield Renewable Partners in the third quarter worth about $55,000. Finally, CENTRAL TRUST Co purchased a new position in shares of Brookfield Renewable Partners in the first quarter worth about $55,000. Institutional investors own 63.16% of the company's stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.

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