Brookfield Renewable Partners (BEP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Brookfield Renewable Energy Partners L.P. owns and operates renewable power platform. The company’s power generating portfolio comprised of hydroelectric generating, wind facilities and natural gas-fired plants. It operates in the United States, Canada and Brazil. The company sells its generation output to public power authorities, load-serving utilities and industrial users. Brookfield Renewable Energy Partners L.P., is based in Hamilton, Bermuda. “

A number of other brokerages also recently issued reports on BEP. ValuEngine downgraded Brookfield Renewable Partners from a buy rating to a hold rating in a report on Monday, February 4th. Raymond James reaffirmed a market perform rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Tuesday, February 12th. Wells Fargo & Co reaffirmed a buy rating and issued a $36.00 price target on shares of Brookfield Renewable Partners in a report on Thursday, April 4th. Finally, TheStreet raised Brookfield Renewable Partners from a d+ rating to a c rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $32.75.

Shares of BEP opened at $31.53 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $5.64 billion, a P/E ratio of 242.54, a price-to-earnings-growth ratio of 14.99 and a beta of 0.57. Brookfield Renewable Partners has a 52-week low of $24.51 and a 52-week high of $32.15.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 28th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 6.53%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.49. The ex-dividend date was Wednesday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is 1,584.62%.

A number of institutional investors and hedge funds have recently made changes to their positions in BEP. JPMorgan Chase & Co. boosted its holdings in Brookfield Renewable Partners by 113.7% in the third quarter. JPMorgan Chase & Co. now owns 10,900 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 5,800 shares in the last quarter. FMR LLC purchased a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $6,034,000. Virtu Financial LLC purchased a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $222,000. The Manufacturers Life Insurance Company lifted its stake in Brookfield Renewable Partners by 215.8% in the third quarter. The Manufacturers Life Insurance Company now owns 438,060 shares of the utilities provider’s stock valued at $13,247,000 after buying an additional 299,335 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $289,000. 54.50% of the stock is owned by hedge funds and other institutional investors.

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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