Brookfield Renewable Partners (NYSE:BEP) Lowered to "Strong Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Brookfield Renewable Partners from a “sell” to a “strong sell,” adding fresh bearish sentiment to the stock.
• Recent analyst opinions are mixed, but the broader view remains cautiously positive: the stock still carries a “Moderate Buy” average rating with an average price target of $37.21.
• Brookfield Renewable Partners reported earnings of -$0.40 per share for the quarter, missing estimates, while revenue of $1.51 billion was slightly above expectations. Shares were down about 1.5% and opened at $34.01.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Sunday.

Several other equities analysts also recently commented on the stock. National Bank Financial increased their price objective on shares of Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a "sector outperform" rating in a research note on Monday, May 4th. Morgan Stanley upped their price target on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the company a "neutral" rating in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce reissued an "outperform" rating and set a $40.00 price objective (up from $37.00) on shares of Brookfield Renewable Partners in a report on Monday, April 20th. Finally, Zacks Research lowered Brookfield Renewable Partners from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 5th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.21.

Brookfield Renewable Partners Stock Down 1.5%

Shares of NYSE BEP opened at $34.01 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.57 and a debt-to-equity ratio of 0.82. The company has a market cap of $10.31 billion, a price-to-earnings ratio of -109.70 and a beta of 1.06. Brookfield Renewable Partners has a 12 month low of $22.64 and a 12 month high of $35.97. The stock has a 50-day moving average price of $32.53 and a two-hundred day moving average price of $30.23.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.04). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. As a group, analysts forecast that Brookfield Renewable Partners will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Large investors have recently modified their holdings of the company. BROOKFIELD Corp ON raised its position in shares of Brookfield Renewable Partners by 9.4% in the 4th quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider's stock worth $2,192,842,000 after acquiring an additional 6,967,670 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Brookfield Renewable Partners by 128.0% in the 4th quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider's stock worth $131,265,000 after purchasing an additional 2,732,542 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Brookfield Renewable Partners by 20.3% during the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider's stock valued at $226,859,000 after buying an additional 1,415,989 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield Renewable Partners by 16.2% during the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider's stock worth $261,189,000 after purchasing an additional 1,414,837 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Brookfield Renewable Partners by 41.9% during the 4th quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider's stock valued at $108,663,000 after acquiring an additional 1,189,130 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

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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