Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Brookfield Renewable Partners “Moderate Buy”: Eight of 13 analysts recommend buying and five rate it a hold, with an average one-year price target of $36.73.
• Quarterly results were mixed: The company reported a loss of $0.52 per share, slightly worse than analysts’ $0.50 loss estimate, while revenue of $1.78 billion exceeded expectations of $1.46 billion.
• BEP opened at $30.07, within a 52-week range of $26.30 to $38.12; institutional investors and hedge funds own 63.16% of its shares.

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP have earned an average rating of "Moderate Buy" from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $36.73.

BEP has been the subject of several recent research reports. Barclays set a $30.00 price target on Brookfield Renewable Partners and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $41.00 price objective on shares of Brookfield Renewable Partners in a research note on Friday, July 17th. Morgan Stanley cut their price objective on shares of Brookfield Renewable Partners from $42.00 to $37.00 and set an "overweight" rating for the company in a research report on Tuesday, October 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research note on Monday, September 21st. Finally, Zacks Research upgraded shares of Brookfield Renewable Partners from a "strong sell" rating to a "hold" rating in a research note on Friday, August 14th.

Brookfield Renewable Partners Stock Down 3.6%

BEP opened at $30.07 on Wednesday. The business has a 50 day moving average price of $29.44 and a two-hundred day moving average price of $32.11. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The company has a market cap of $9.11 billion, a PE ratio of -40.10 and a beta of 1.08. Brookfield Renewable Partners has a 52 week low of $26.30 and a 52 week high of $38.12.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its earnings results on Wednesday, November 4th. The utilities provider reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.02). The company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.46 billion. Brookfield Renewable Partners had a negative net margin of 1.77% and a negative return on equity of 0.33%. As a group, research analysts anticipate that Brookfield Renewable Partners will post -1.88 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

A number of institutional investors have recently modified their holdings of BEP. Private Advisor Group LLC acquired a new stake in Brookfield Renewable Partners in the third quarter valued at $489,000. Cibc World Market Inc. grew its stake in shares of Brookfield Renewable Partners by 9.2% during the 3rd quarter. Cibc World Market Inc. now owns 3,045,909 shares of the utilities provider's stock worth $85,803,000 after purchasing an additional 256,650 shares during the period. HighTower Advisors LLC grew its stake in shares of Brookfield Renewable Partners by 2.1% during the 3rd quarter. HighTower Advisors LLC now owns 43,778 shares of the utilities provider's stock worth $1,232,000 after purchasing an additional 917 shares during the period. BCV Asset Management Inc. grew its stake in shares of Brookfield Renewable Partners by 11.1% during the 3rd quarter. BCV Asset Management Inc. now owns 75,442 shares of the utilities provider's stock worth $2,139,000 after purchasing an additional 7,553 shares during the period. Finally, Financial Freedom LLC purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $36,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns and operates a global portfolio of renewable power and sustainable energy assets. Its operations include hydroelectric, wind and solar generation, as well as battery storage and distributed energy businesses. The partnership serves markets across North America, South America, Europe and the Asia-Pacific region. It sells renewable electricity and related services to utilities, businesses and other customers. Brookfield Renewable traces its roots to Brookfield Asset Management's renewable power business and operates as part of the Brookfield group.

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