Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday. They presently have a $35.00 price objective on the utilities provider’s stock.

Several other research analysts have also commented on BEP. TD Securities boosted their price objective on shares of Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays PLC set a $36.00 price objective on shares of Brookfield Renewable Partners L.P. and gave the stock a “hold” rating in a research note on Sunday. UBS AG lowered shares of Brookfield Renewable Partners L.P. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. BMO Capital Markets restated a “hold” rating and set a $33.00 price target on shares of Brookfield Renewable Partners L.P. in a research note on Wednesday, July 12th. Finally, BidaskClub upgraded 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 research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.75.

Shares of Brookfield Renewable Partners L.P. (BEP) traded down 3.37% during midday trading on Tuesday, hitting $33.82. 138,057 shares of the company traded hands. The stock’s market capitalization is $10.03 billion. The company has a 50-day moving average price of $32.88 and a 200-day moving average price of $30.87. Brookfield Renewable Partners L.P. has a 52 week low of $26.61 and a 52 week high of $34.38.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $683 million during the quarter, compared to analyst estimates of $721.75 million. Brookfield Renewable Partners L.P. had a net margin of 2.82% and a return on equity of 0.75%. Analysts anticipate that Brookfield Renewable Partners L.P. will post $0.17 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the company. Global X Management Co. LLC increased its stake in shares of Brookfield Renewable Partners L.P. by 10.0% in the second quarter. Global X Management Co. LLC now owns 316,513 shares of the utilities provider’s stock worth $10,109,000 after buying an additional 28,773 shares during the period. American Assets Capital Advisers purchased a new stake in shares of Brookfield Renewable Partners L.P. during the second quarter worth about $10,520,000. Bowen Hanes & Co. Inc. increased its stake in shares of Brookfield Renewable Partners L.P. by 0.4% in the second quarter. Bowen Hanes & Co. Inc. now owns 268,495 shares of the utilities provider’s stock worth $8,576,000 after buying an additional 1,000 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of Brookfield Renewable Partners L.P. during the second quarter worth about $259,000. Finally, First Manhattan Co. increased its stake in shares of Brookfield Renewable Partners L.P. by 3.0% in the second quarter. First Manhattan Co. now owns 564,697 shares of the utilities provider’s stock worth $17,979,000 after buying an additional 16,522 shares during the period. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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