Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $40.00

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

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

Brookfield Renewable Partners Trading Down 4.1 %

Shares of Brookfield Renewable Partners stock opened at $22.64 on Thursday. The stock has a market cap of $6.45 billion, a PE ratio of -27.61 and a beta of 0.95. The firm has a fifty day moving average price of $24.46 and a 200 day moving average price of $25.23. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. 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 quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business 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 quarter in the prior year, the company posted ($0.14) EPS. Equities research analysts predict that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.355 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.27%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.17%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in shares of Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 403 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the period. HighTower Advisors LLC increased its position in Brookfield Renewable Partners by 1.6% during the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after purchasing an additional 749 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Brookfield Renewable Partners by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 945 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. Hedge funds and other 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.