Brookfield Renewable Partners (NYSE:BEP) Upgraded at StockNews.com

StockNews.com upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a sell rating to a hold rating in a research report sent to investors on Monday.

A number of other analysts have also issued reports on BEP. CIBC lifted their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $31.00 in a report on Monday, September 30th. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Trading Up 1.4 %

Shares of NYSE:BEP opened at $24.11 on Monday. The business has a 50-day moving average price of $26.06 and a 200-day moving average price of $25.71. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of -29.40 and a beta of 0.93. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter in the previous year, the business posted ($0.14) EPS. Equities analysts predict that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds have recently bought and sold shares of BEP. Intact Investment Management Inc. purchased a new position in Brookfield Renewable Partners in the third quarter valued at $42,331,000. MAI Capital Management increased its holdings in shares of Brookfield Renewable Partners by 294.2% in the 3rd quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock valued at $2,443,000 after acquiring an additional 64,695 shares during the last quarter. Mirabella Financial Services LLP raised its position in shares of Brookfield Renewable Partners by 145.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after acquiring an additional 276,374 shares in the last quarter. TD Asset Management Inc lifted its stake in Brookfield Renewable Partners by 2.9% during the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after purchasing an additional 67,777 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Brookfield Renewable Partners by 2.6% in the third quarter. National Bank of Canada FI now owns 1,040,674 shares of the utilities provider’s stock valued at $29,326,000 after purchasing an additional 25,916 shares in 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.