Brookfield Renewable Partners (NYSE:BEP) Research Coverage Started at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce assumed coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research note published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an outperformer rating and a $37.00 price objective on the utilities provider’s stock.

BEP has been the subject of several other research reports. Barclays set a $28.00 price objective on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, December 29th. UBS Group reissued a “buy” rating and issued a $39.00 price target (up from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th. Desjardins upgraded shares of Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Brookfield Renewable Partners in a report on Thursday, November 6th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.93.

Brookfield Renewable Partners Trading Up 0.0%

BEP opened at $30.28 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.57. Brookfield Renewable Partners has a one year low of $19.29 and a one year high of $32.78. The company has a market cap of $8.60 billion, a P/E ratio of -116.47 and a beta of 1.13. The business’s 50-day simple moving average is $29.54 and its 200-day simple moving average is $28.17.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.88. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. As a group, equities research analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s dividend payout ratio is presently -603.85%.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently bought and sold shares of the business. BROOKFIELD Corp ON increased its stake in Brookfield Renewable Partners by 9.4% in the fourth quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after purchasing an additional 6,967,670 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Brookfield Renewable Partners by 1.8% during the fourth quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock worth $277,930,000 after buying an additional 177,599 shares during the period. Bank of Montreal Can grew its holdings in shares of Brookfield Renewable Partners by 20.3% during the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock worth $226,859,000 after buying an additional 1,415,989 shares during the last quarter. State of Wisconsin Investment Board increased its position in Brookfield Renewable Partners by 128.0% in the 4th quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock valued at $131,265,000 after acquiring an additional 2,732,542 shares during the period. Finally, Morgan Stanley increased its position in Brookfield Renewable Partners by 41.9% in the 4th quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock valued at $108,663,000 after acquiring an additional 1,189,130 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.