Brookfield Renewable Partners (NYSE:BEP) Now Covered by Barclays

Barclays began coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report report published on Wednesday morning, MarketBeat.com reports. The firm issued an equal weight rating on the utilities provider’s stock.

Several other analysts also recently weighed in on BEP. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Scotiabank boosted their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. National Bankshares reduced their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Trading Up 0.6 %

NYSE:BEP opened at $22.64 on Wednesday. The company’s 50 day moving average is $22.44 and its 200-day moving average is $24.16. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of -25.44 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the prior year, the firm posted $0.01 EPS. Equities analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a $0.373 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 6.59%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s payout ratio is presently -167.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEP. Royal Bank of Canada raised its holdings in shares of Brookfield Renewable Partners by 1.3% in the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider’s stock worth $375,248,000 after buying an additional 211,467 shares in the last quarter. CIBC Asset Management Inc grew its position in Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after acquiring an additional 1,628,524 shares during the period. Principal Financial Group Inc. raised its stake in Brookfield Renewable Partners by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after acquiring an additional 246,163 shares in the last quarter. Bank of Montreal Can raised its stake in Brookfield Renewable Partners by 4.7% during the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock worth $160,585,000 after acquiring an additional 315,272 shares in the last quarter. Finally, Cibc World Market Inc. lifted its holdings in shares of Brookfield Renewable Partners by 4.4% during the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock valued at $62,647,000 after acquiring an additional 116,593 shares during the period. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.