Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday.

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 research analysts have also recently weighed in on the stock. Raymond James Financial set a $35.00 price objective on shares of Brookfield Renewable Partners and gave the company a “market perform” rating in a report on Monday. National Bank Financial cut their price objective on shares of Brookfield Renewable Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Wednesday, February 7th. Credit Suisse Group raised shares of Brookfield Renewable Partners from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 6th. Guggenheim set a $36.00 price objective on shares of Brookfield Renewable Partners and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, CIBC cut shares of Brookfield Renewable Partners from a “sector outperform” rating to a “neutral” rating in a report on Thursday, November 2nd. Twelve analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.45.

Brookfield Renewable Partners (NYSE:BEP) opened at $32.28 on Monday. Brookfield Renewable Partners has a fifty-two week low of $28.13 and a fifty-two week high of $36.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $5,790.00, a price-to-earnings ratio of -269.00 and a beta of 0.14.

Brookfield Renewable Partners announced that its board has approved a share repurchase program on Friday, December 22nd that authorizes the company to buyback 9,000,000 shares. This buyback authorization authorizes the utilities provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Several hedge funds have recently added to or reduced their stakes in BEP. JPMorgan Chase & Co. purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth about $109,000. Wells Fargo & Company MN increased its stake in shares of Brookfield Renewable Partners by 242.2% during the second quarter. Wells Fargo & Company MN now owns 8,972 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 6,350 shares in the last quarter. FMR LLC increased its stake in shares of Brookfield Renewable Partners by 5.1% during the second quarter. FMR LLC now owns 1,245,800 shares of the utilities provider’s stock worth $39,724,000 after purchasing an additional 60,000 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth about $3,057,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth about $305,000. 54.76% of the stock is owned by institutional investors and hedge funds.

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Brookfield Renewable Partners 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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