TheStreet Upgrades Brookfield Renewable Partners L.P. (NYSE:BEP) to C-

TheStreet upgraded shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) from a d+ rating to a c- rating in a report released on Tuesday, June 27th.

A number of other brokerages have also issued reports on BEP. Zacks Investment Research raised shares of Brookfield Renewable Partners L.P. from a strong sell rating to a hold rating in a report on Monday, February 27th. BMO Capital Markets lowered shares of Brookfield Renewable Partners L.P. from an outperform rating to a market perform rating and set a $33.00 target price for the company. in a research note on Wednesday, May 24th. They noted that the move was a valuation call. Wells Fargo & Company started coverage on shares of Brookfield Renewable Partners L.P. in a research note on Tuesday, May 9th. They set an outperform rating for the company. Barclays PLC reaffirmed an equal weight rating and set a $32.00 target price (down previously from $33.00) on shares of Brookfield Renewable Partners L.P. in a research note on Sunday, April 23rd. Finally, BidaskClub raised shares of Brookfield Renewable Partners L.P. from a buy rating to a strong-buy rating in a research note on Tuesday, June 20th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Brookfield Renewable Partners L.P. presently has an average rating of Hold and a consensus price target of $36.00.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded up 1.01% during trading on Tuesday, hitting $33.84. 61,303 shares of the company’s stock were exchanged. The company has a 50-day moving average of $32.71 and a 200-day moving average of $30.75. Brookfield Renewable Partners L.P. has a 12-month low of $26.61 and a 12-month high of $34.02. The company’s market cap is $10.04 billion.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.06. Brookfield Renewable Partners L.P. had a negative net margin of 1.34% and a negative return on equity of 0.10%. The firm had revenue of $677 million during the quarter, compared to analysts’ expectations of $699.25 million. On average, equities analysts expect that Brookfield Renewable Partners L.P. will post $0.16 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, May 31st were issued a $0.4675 dividend. The ex-dividend date was Friday, May 26th. This represents a $1.87 annualized dividend and a yield of 5.53%.

A number of institutional investors have recently made changes to their positions in the stock. Keybank National Association OH raised its position in shares of Brookfield Renewable Partners L.P. by 7.0% in the fourth quarter. Keybank National Association OH now owns 7,649 shares of the utilities provider’s stock valued at $227,000 after buying an additional 498 shares in the last quarter. WFG Advisors LP raised its position in shares of Brookfield Renewable Partners L.P. by 22,006.5% in the fourth quarter. WFG Advisors LP now owns 47,750 shares of the utilities provider’s stock valued at $265,000 after buying an additional 47,534 shares in the last quarter. Catawba Capital Management VA bought a new position in shares of Brookfield Renewable Partners L.P. during the first quarter valued at approximately $402,000. Jane Street Group LLC bought a new position in shares of Brookfield Renewable Partners L.P. during the first quarter valued at approximately $454,000. Finally, Greystone Investment Management LLC raised its position in shares of Brookfield Renewable Partners L.P. by 7.9% in the second quarter. Greystone Investment Management LLC now owns 41,190 shares of the utilities provider’s stock valued at $1,314,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 54.36% of the company’s stock.

About Brookfield Renewable Partners L.P.

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

Analyst Recommendations for Brookfield Renewable Partners L.P. (NYSE:BEP)

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