Brookfield Renewable Partners (NYSE:BEP) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Brookfield Renewable Partners (NYSE:BEP - Free Report) TSE: BEP from a buy rating to a hold rating in a research note released on Wednesday.

Several other research analysts have also recently weighed in on BEP. Wells Fargo & Company decreased their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Scotiabank decreased their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, CIBC reduced their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $30.50.

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Brookfield Renewable Partners Stock Performance

NYSE:BEP traded down $0.03 during trading hours on Wednesday, reaching $22.37. The stock had a trading volume of 764,471 shares, compared to its average volume of 1,104,736. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The stock has a market cap of $6.38 billion, a P/E ratio of -25.14 and a beta of 0.95. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The stock has a 50 day simple moving average of $22.34 and a 200 day simple moving average of $24.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the prior year, the firm posted $0.01 earnings per share. On average, research analysts forecast that Brookfield Renewable Partners will post -0.99 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -159.55%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEP. CIBC Asset Management Inc lifted its holdings in shares of Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider's stock valued at $192,605,000 after purchasing an additional 1,628,524 shares in the last quarter. AGF Management Ltd. raised its position in Brookfield Renewable Partners by 3,234.7% in the 4th quarter. AGF Management Ltd. now owns 1,588,410 shares of the utilities provider's stock worth $36,681,000 after buying an additional 1,540,777 shares during the last quarter. Intact Investment Management Inc. purchased a new position in Brookfield Renewable Partners in the 3rd quarter worth about $42,331,000. National Bank of Canada FI lifted its stake in Brookfield Renewable Partners by 102.4% during the 4th quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider's stock valued at $48,023,000 after acquiring an additional 1,065,590 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in shares of Brookfield Renewable Partners by 31.8% during the 4th quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider's stock valued at $53,263,000 after acquiring an additional 564,515 shares during the last quarter. 63.16% of the stock is 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.