Brookfield Renewable Partners (NYSE:BEP) PT Lowered to $32.00 at Raymond James

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target cut by Raymond James from $33.00 to $32.00 in a research note issued to investors on Thursday, BayStreet.CA reports. They currently have a strong-buy rating on the utilities provider’s stock.

A number of other analysts have also commented on the stock. National Bankshares boosted their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an outperform rating in a research note on Tuesday, January 9th. JPMorgan Chase & Co. restated a neutral rating and issued a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a hold rating to a sell rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners currently has an average rating of Moderate Buy and a consensus price target of $30.50.

Brookfield Renewable Partners Trading Up 0.2 %

Shares of NYSE:BEP opened at $21.34 on Thursday. The business’s 50 day simple moving average is $22.46 and its 200 day simple moving average is $23.86. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $32.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $6.10 billion, a P/E ratio of -66.69 and a beta of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.08 billion. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted ($0.16) EPS. On average, research analysts anticipate that Brookfield Renewable Partners will post -0.01 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a dividend of $0.355 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.42 dividend on an annualized basis and a yield of 6.65%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. Brookfield Renewable Partners’s payout ratio is presently -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors have recently bought and sold shares of BEP. Verity & Verity LLC acquired a new stake in Brookfield Renewable Partners during the 1st quarter valued at approximately $252,000. PFG Investments LLC increased its position in Brookfield Renewable Partners by 11.5% during the first quarter. PFG Investments LLC now owns 74,592 shares of the utilities provider’s stock worth $1,733,000 after purchasing an additional 7,710 shares during the last quarter. Everett Harris & Co. CA acquired a new position in Brookfield Renewable Partners during the 1st quarter worth about $286,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Brookfield Renewable Partners during the 1st quarter valued at about $31,000. Finally, Ervin Investment Management LLC grew its position in Brookfield Renewable Partners by 3.3% in the 1st quarter. Ervin Investment Management LLC now owns 45,792 shares of the utilities provider’s stock valued at $1,064,000 after acquiring an additional 1,469 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

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.