Weiss Ratings Reaffirms Sell (D+) Rating for Brookfield Renewable Partners (NYSE:BEP)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for Brookfield Renewable Partners (NYSE:BEP), highlighting concerns about the company's performance amid mixed signals from other analysts.
• Several research firms have adjusted their ratings and price targets for BEP, with projections ranging from $30.00 to $32.00, reflecting varying levels of optimism in the stock's future performance.
• Brookfield Renewable Partners recently missed earnings estimates, reporting an EPS of ($0.22) against a consensus estimate of ($0.19), raising concerns about its profitability outlook.

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

A number of other research firms also recently weighed in on BEP. CIBC increased their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. Raymond James Financial lowered shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 18th. National Bankshares increased their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Brookfield Renewable Partners Price Performance

BEP traded up $0.06 on Wednesday, hitting $27.91. 1,050,922 shares of the stock were exchanged, compared to its average volume of 618,017. The business has a 50-day moving average of $25.52 and a two-hundred day moving average of $24.60. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of -29.38 and a beta of 1.13. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. Brookfield Renewable Partners has a 12 month low of $19.29 and a 12 month high of $29.56.

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

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of large investors have recently modified their holdings of BEP. Hilltop National Bank raised its position in Brookfield Renewable Partners by 37.6% in the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider's stock valued at $47,000 after buying an additional 500 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Brookfield Renewable Partners by 5.4% during the second quarter. Osaic Holdings Inc. now owns 23,468 shares of the utilities provider's stock worth $599,000 after purchasing an additional 1,212 shares during the last quarter. Liontrust Investment Partners LLP purchased a new position in Brookfield Renewable Partners during the second quarter worth about $24,180,000. National Bank of Canada FI lifted its position in shares of Brookfield Renewable Partners by 0.9% during the 2nd quarter. National Bank of Canada FI now owns 2,489,280 shares of the utilities provider's stock worth $63,023,000 after buying an additional 22,323 shares in the last quarter. Finally, Northern Right Capital Management L.P. lifted its position in shares of Brookfield Renewable Partners by 64.6% during the 2nd quarter. Northern Right Capital Management L.P. now owns 64,621 shares of the utilities provider's stock worth $1,648,000 after buying an additional 25,359 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors.

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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