Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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. “

BEP has been the subject of a number of other reports. ValuEngine raised Brookfield Renewable Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, June 8th. BidaskClub upgraded Brookfield Renewable Partners L.P. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Macquarie downgraded Brookfield Renewable Partners L.P. from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 28th. Royal Bank Of Canada lifted their price target on Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the company a “sector perform” rating in a report on Tuesday, August 8th. Finally, Brookfield Renewable Partners LP lifted their price target on Brookfield Renewable Partners L.P. to $48.50 and gave the company a “buy” rating in a report on Wednesday, August 16th. Ten investment 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 stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.78.

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) traded up 0.12% during trading on Friday, hitting $33.53. The company had a trading volume of 111,091 shares. The company has a market capitalization of $9.95 billion, a P/E ratio of 11176.67 and a beta of 0.23. Brookfield Renewable Partners L.P. has a 52 week low of $26.61 and a 52 week high of $36.00. The stock’s 50-day moving average price is $34.29 and its 200 day moving average price is $32.44.

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 Zacks’ consensus estimate of $0.08 by $0.05. The business had revenue of $683.00 million during the quarter, compared to analyst estimates of $721.75 million. Brookfield Renewable Partners L.P. had a return on equity of 0.76% and a net margin of 3.66%. On average, equities research analysts forecast that Brookfield Renewable Partners L.P. will post $0.08 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. Brookfield Asset Management Inc. grew its stake in Brookfield Renewable Partners L.P. by 9.7% during the 2nd quarter. Brookfield Asset Management Inc. now owns 56,068,944 shares of the utilities provider’s stock worth $1,786,357,000 after buying an additional 4,943,000 shares during the last quarter. Ecofin Ltd. purchased a new position in Brookfield Renewable Partners L.P. during the 2nd quarter worth $4,312,000. Advisory Services Network LLC purchased a new position in Brookfield Renewable Partners L.P. during the 2nd quarter worth $305,000. Scotia Capital Inc. grew its stake in Brookfield Renewable Partners L.P. by 19.5% during the 2nd quarter. Scotia Capital Inc. now owns 2,527,595 shares of the utilities provider’s stock worth $80,466,000 after buying an additional 412,554 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Brookfield Renewable Partners L.P. during the 2nd quarter worth $3,057,000. Hedge funds and other institutional investors own 58.34% 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.

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