Brookfield Renewable Partners (NYSE:BEP) PT Raised to $31.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price raised by Royal Bank of Canada from $29.00 to $31.00 in a research note published on Monday morning, BayStreet.CA reports. The firm currently has an outperform rating on the utilities provider’s stock.

A number of other research firms have also issued reports on BEP. BMO Capital Markets raised their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an outperform rating in a research report on Monday. CIBC raised their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an outperform rating in a report on Monday. StockNews.com cut shares of Brookfield Renewable Partners from a hold rating to a sell rating in a research note on Monday, March 4th. Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an outperform rating in a report on Monday. Finally, National Bankshares upped their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an outperform rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $30.75.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $26.65 on Monday. The business has a 50-day simple moving average of $22.51 and a two-hundred day simple moving average of $23.97. The company has a market cap of $7.62 billion, a PE ratio of -57.93 and a beta of 0.83. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.08 billion. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.31%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.16) earnings per share. As a group, equities analysts expect that Brookfield Renewable Partners will post -0.01 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.33%. The ex-dividend date is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio is currently -219.56%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors have recently modified their holdings of BEP. Commonwealth Equity Services LLC raised its holdings in shares of Brookfield Renewable Partners by 3.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 34,683 shares of the utilities provider’s stock valued at $754,000 after purchasing an additional 1,047 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Brookfield Renewable Partners in the third quarter valued at $244,000. Mackenzie Financial Corp raised its stake in Brookfield Renewable Partners by 12.1% in the third quarter. Mackenzie Financial Corp now owns 176,224 shares of the utilities provider’s stock valued at $3,583,000 after buying an additional 19,083 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Brookfield Renewable Partners by 1.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,786,846 shares of the utilities provider’s stock worth $82,528,000 after acquiring an additional 56,651 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Brookfield Renewable Partners by 0.9% during the third quarter. Principal Financial Group Inc. now owns 6,490,296 shares of the utilities provider’s stock worth $141,099,000 after purchasing an additional 57,177 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.