Brookfield Renewable Partners (NYSE:BEP) Hits New 52-Week High – What’s Next?

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $37.20 and last traded at $36.4970, with a volume of 505397 shares trading hands. The stock had previously closed at $36.94.

Analyst Ratings Changes

Several equities analysts recently weighed in on BEP shares. TD lifted their target price on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a report on Monday, May 4th. Zacks Research lowered shares of Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. TD Securities reiterated a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, May 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average target price of $37.21.

Brookfield Renewable Partners Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of -117.73 and a beta of 1.06. The business’s fifty day simple moving average is $33.64 and its 200 day simple moving average is $30.70.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Research analysts predict that Brookfield Renewable Partners L.P. will post -1.38 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a $0.392 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.57 annualized dividend and a dividend yield of 4.3%. Brookfield Renewable Partners’s payout ratio is presently -506.45%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Aviso Financial Inc. increased its position in shares of Brookfield Renewable Partners by 9.6% in the 3rd quarter. Aviso Financial Inc. now owns 8,338 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 733 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Brookfield Renewable Partners by 7.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock worth $264,000 after purchasing an additional 742 shares during the last quarter. Allworth Financial LP increased its position in shares of Brookfield Renewable Partners by 9.5% in the 4th quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock worth $233,000 after purchasing an additional 750 shares during the last quarter. Tacita Capital Inc increased its position in shares of Brookfield Renewable Partners by 0.7% in the 4th quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock worth $3,220,000 after purchasing an additional 770 shares during the last quarter. Finally, Kelleher Financial Advisors bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth about $26,000. 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.