Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $34.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price upped by National Bankshares from $33.00 to $34.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

Several other equities analysts have also recently commented on BEP. UBS Group restated a “buy” rating and issued a $39.00 price target (up previously from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Desjardins upgraded Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. Morgan Stanley restated an “overweight” rating and set a $38.00 price target (up previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. Finally, TD Securities increased their price target on Brookfield Renewable Partners from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.86.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $26.89 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $8.23 billion, a P/E ratio of -31.27 and a beta of 1.12. The stock has a 50-day moving average of $28.30 and a two-hundred day moving average of $27.06. Brookfield Renewable Partners has a 1-year low of $19.29 and a 1-year high of $32.72.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.22. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.61 billion. Brookfield Renewable Partners had a net margin of 3.52% and a return on equity of 0.66%. As a group, analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Renewable Partners’s payout ratio is -173.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BEP. TABR Capital Management LLC acquired a new stake in shares of Brookfield Renewable Partners during the 4th quarter worth about $544,000. Triumph Capital Management purchased a new position in Brookfield Renewable Partners in the third quarter valued at approximately $55,000. Allworth Financial LP raised its holdings in Brookfield Renewable Partners by 49.0% during the third quarter. Allworth Financial LP now owns 7,895 shares of the utilities provider’s stock worth $204,000 after purchasing an additional 2,595 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Brookfield Renewable Partners during the third quarter worth approximately $19,944,000. Finally, Ovata Capital Management Ltd purchased a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $4,511,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.