CIBC Downgrades Brookfield Renewable Partners L.P. (BEP) to Neutral

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was downgraded by research analysts at CIBC from a “sector outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday.

Several other analysts also recently weighed in on the stock. GMP Securities reaffirmed a “hold” rating and issued a $34.50 target price on shares of Brookfield Renewable Partners L.P. in a report on Friday, October 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 target price on shares of Brookfield Renewable Partners L.P. in a report on Friday, October 20th. Zacks Investment Research downgraded shares of Brookfield Renewable Partners L.P. from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. National Bank Financial lifted their target price on shares of Brookfield Renewable Partners L.P. from $35.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, October 18th. Finally, Raymond James Financial, Inc. lowered their target price on shares of Brookfield Renewable Partners L.P. to $42.00 and set a “market perform” rating on the stock in a report on Thursday, August 17th. Twelve analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Brookfield Renewable Partners L.P. presently has an average rating of “Hold” and an average price target of $38.39.

Shares of Brookfield Renewable Partners L.P. (BEP) traded down $0.48 during trading hours on Thursday, hitting $33.55. 54,929 shares of the stock traded hands, compared to its average volume of 77,990. The company has a quick ratio of 0.51, a current ratio of 0.58 and a debt-to-equity ratio of 0.74.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The business had revenue of $683.00 million for the quarter, compared to the consensus estimate of $721.75 million. Brookfield Renewable Partners L.P. had a net margin of 3.11% and a return on equity of 0.64%. sell-side analysts expect that Brookfield Renewable Partners L.P. will post -0.63 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in Brookfield Renewable Partners L.P. by 2.9% during the first quarter. FMR LLC now owns 1,185,800 shares of the utilities provider’s stock worth $35,132,000 after acquiring an additional 33,000 shares during the last quarter. Renaissance Technologies LLC raised its position in Brookfield Renewable Partners L.P. by 353.8% during the first quarter. Renaissance Technologies LLC now owns 255,953 shares of the utilities provider’s stock worth $7,598,000 after acquiring an additional 199,554 shares during the last quarter. Hexavest Inc. raised its position in Brookfield Renewable Partners L.P. by 1.1% during the second quarter. Hexavest Inc. now owns 338,455 shares of the utilities provider’s stock worth $10,776,000 after acquiring an additional 3,715 shares during the last quarter. Karpas Strategies LLC raised its position in Brookfield Renewable Partners L.P. by 2.4% during the second quarter. Karpas Strategies LLC now owns 118,525 shares of the utilities provider’s stock worth $3,786,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Greystone Investment Management LLC raised its position in Brookfield Renewable Partners L.P. by 7.9% during the second quarter. Greystone Investment Management LLC now owns 41,190 shares of the utilities provider’s stock worth $1,314,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 58.37% of the company’s stock.

Brookfield Renewable Partners L.P. Company Profile

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.

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