Brookfield Renewable Partners (BEP) Given a $35.00 Price Target by Raymond James Financial Analysts

Raymond James Financial set a $35.00 price objective on Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report sent to investors on Monday. The firm currently has a market perform rating on the utilities provider’s stock.

Several other equities analysts have also recently commented on BEP. Credit Suisse Group upgraded Brookfield Renewable Partners from a neutral rating to an outperform rating in a research report on Tuesday, February 6th. National Bank Financial reduced their target price on Brookfield Renewable Partners from $36.00 to $35.00 and set a sector perform rating for the company in a research report on Wednesday, February 7th. Guggenheim set a $36.00 target price on Brookfield Renewable Partners and gave the stock a buy rating in a research report on Thursday, January 18th. GMP Securities restated a hold rating and set a $34.50 target price on shares of Brookfield Renewable Partners in a research report on Friday, October 20th. Finally, BMO Capital Markets restated a hold rating and set a $35.00 target price on shares of Brookfield Renewable Partners in a research report on Friday, October 20th. Twelve investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Brookfield Renewable Partners presently has a consensus rating of Hold and an average price target of $36.45.

Brookfield Renewable Partners (NYSE:BEP) opened at $32.50 on Monday. Brookfield Renewable Partners has a 52-week low of $28.13 and a 52-week high of $36.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $5,788.14, a PE ratio of -270.81 and a beta of 0.16.

Brookfield Renewable Partners declared that its board has initiated a share repurchase program on Friday, December 22nd that permits the company to repurchase 9,000,000 shares. This repurchase authorization permits the utilities provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th will be issued a $0.49 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date is Tuesday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is presently -1,558.20%.

Institutional investors and hedge funds have recently bought and sold shares of the company. TD Asset Management Inc. boosted its holdings in shares of Brookfield Renewable Partners by 0.4% in the 3rd quarter. TD Asset Management Inc. now owns 3,384,550 shares of the utilities provider’s stock worth $113,148,000 after purchasing an additional 12,896 shares in the last quarter. Advisors Capital Management LLC purchased a new stake in Brookfield Renewable Partners during the 3rd quarter valued at about $3,890,000. Bank of Nova Scotia Trust Co. boosted its holdings in Brookfield Renewable Partners by 2.4% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 232,606 shares of the utilities provider’s stock valued at $7,797,000 after acquiring an additional 5,528 shares during the period. American Assets Capital Advisers boosted its holdings in Brookfield Renewable Partners by 2.5% during the 3rd quarter. American Assets Capital Advisers now owns 338,200 shares of the utilities provider’s stock valued at $11,337,000 after acquiring an additional 8,091 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Brookfield Renewable Partners by 54.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 210,300 shares of the utilities provider’s stock valued at $7,036,000 after acquiring an additional 74,371 shares during the period. Hedge funds and other institutional investors own 54.76% of the company’s stock.

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About Brookfield Renewable Partners

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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