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 on Thursday.

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. “

Several other equities research analysts have also commented on the stock. National Bank Financial boosted their price objective on shares of Brookfield Renewable Partners L.P. from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Raymond James Financial, Inc. dropped their price objective on shares of Brookfield Renewable Partners L.P. to $42.00 and set a “market perform” rating on the stock in a research note on Thursday, August 17th. Brookfield Renewable Partners LP dropped their price objective on shares of Brookfield Renewable Partners L.P. to $42.00 and set a “market perform” rating on the stock in a research note on Thursday, August 17th. Royal Bank Of Canada boosted their price objective on shares of Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 8th. Finally, 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, August 8th. Ten research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.89.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded down 0.14% during trading on Thursday, hitting $35.16. 44,702 shares of the stock traded hands. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 11720.00 and a beta of 0.23. Brookfield Renewable Partners L.P. has a 12 month low of $26.61 and a 12 month high of $36.00. The company has a 50 day moving average price of $34.15 and a 200 day moving average price of $32.81.

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. Brookfield Renewable Partners L.P. had a net margin of 3.66% and a return on equity of 0.76%. The business had revenue of $683.00 million for the quarter, compared to analyst estimates of $721.75 million. Analysts anticipate that Brookfield Renewable Partners L.P. will post $0.07 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of BEP. CIBC World Markets raised its holdings in Brookfield Renewable Partners L.P. by 40.6% in the fourth quarter. CIBC World Markets now owns 404,636 shares of the utilities provider’s stock worth $10,593,000 after buying an additional 116,857 shares during the last quarter. Karpas Strategies LLC raised its holdings in Brookfield Renewable Partners L.P. by 36.8% in the fourth quarter. Karpas Strategies LLC now owns 101,750 shares of the utilities provider’s stock worth $2,664,000 after buying an additional 27,350 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in Brookfield Renewable Partners L.P. in the fourth quarter worth about $489,000. Great West Life Assurance Co. Can raised its holdings in Brookfield Renewable Partners L.P. by 13.5% in the fourth quarter. Great West Life Assurance Co. Can now owns 981,564 shares of the utilities provider’s stock worth $25,775,000 after buying an additional 116,995 shares during the last quarter. Finally, K.J. Harrison & Partners Inc raised its holdings in Brookfield Renewable Partners L.P. by 17.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 69,150 shares of the utilities provider’s stock worth $1,812,000 after buying an additional 10,150 shares during the last quarter. 58.34% of the stock is owned by institutional investors and hedge funds.

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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