CIBC Issues Positive Forecast for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective boosted by CIBC from $39.00 to $40.00 in a research report report published on Thursday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Thursday, December 12th. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $31.00 in a research report on Monday, September 30th. National Bankshares lowered their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.44.

Brookfield Renewable Partners Trading Down 4.1 %

BEP stock opened at $22.64 on Thursday. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The firm’s 50-day moving average is $24.46 and its 200 day moving average is $25.23. The company has a market capitalization of $6.45 billion, a PE ratio of -27.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS 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 return on equity of 0.24% and a net margin of 1.16%. During the same period last year, the business posted ($0.14) earnings per share. On average, research analysts anticipate that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.355 per share. The ex-dividend date was Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 6.27%. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners in the 3rd quarter worth approximately $28,000. Waverton Investment Management Ltd acquired a new stake in Brookfield Renewable Partners in the 3rd quarter worth approximately $178,000. Barclays PLC grew its position in Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Creative Planning acquired a new position in Brookfield Renewable Partners during the 3rd quarter valued at approximately $206,000. 63.16% of the stock is owned by institutional investors and hedge funds.

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.