TD Securities Lowers Brookfield Renewable Partners (NYSE:BEP) to Hold

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $45.00 target price on the utilities provider’s stock, up from their prior target price of $43.00. TD Securities’ price target suggests a potential upside of 0.40% from the company’s current price.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada lifted their price target on Brookfield Renewable Partners from $37.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, September 30th. Credit Suisse Group lowered Brookfield Renewable Partners from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 25th. ValuEngine lowered Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James set a $40.00 price target on Brookfield Renewable Partners and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. Finally, National Bank Financial lifted their price target on Brookfield Renewable Partners from $37.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, September 30th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.11.

Brookfield Renewable Partners stock traded up $0.39 on Tuesday, hitting $44.82. 230,431 shares of the stock traded hands, compared to its average volume of 211,106. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market cap of $7.94 billion, a P/E ratio of 344.77 and a beta of 0.48. The business’s fifty day simple moving average is $42.01 and its 200 day simple moving average is $36.69. Brookfield Renewable Partners has a 1 year low of $24.51 and a 1 year high of $44.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Monday, November 11th. The utilities provider reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.18). The firm had revenue of $642.00 million for the quarter. Brookfield Renewable Partners had a net margin of 9.26% and a return on equity of 1.72%.

A number of large investors have recently modified their holdings of the business. Cetera Advisors LLC raised its position in Brookfield Renewable Partners by 16.8% in the 3rd quarter. Cetera Advisors LLC now owns 50,733 shares of the utilities provider’s stock worth $2,061,000 after buying an additional 7,299 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in Brookfield Renewable Partners in the 3rd quarter worth about $251,000. AE Wealth Management LLC raised its position in Brookfield Renewable Partners by 1.7% in the 3rd quarter. AE Wealth Management LLC now owns 18,728 shares of the utilities provider’s stock worth $761,000 after buying an additional 306 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in Brookfield Renewable Partners by 25.9% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 726,945 shares of the utilities provider’s stock worth $29,523,000 after buying an additional 149,545 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Brookfield Renewable Partners by 41.8% in the 3rd quarter. First Trust Advisors LP now owns 165,537 shares of the utilities provider’s stock worth $6,724,000 after buying an additional 48,760 shares during the last quarter. 54.47% of the stock is owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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