Brookfield Renewable Partners (NYSE:BEP) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a report released on Friday. The firm issued a sell rating on the utilities provider’s stock.

A number of other brokerages have also recently commented on BEP. BMO Capital Markets upped their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an outperform rating in a research report on Monday, May 6th. Scotiabank upped their price target on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a sector outperform rating in a research report on Wednesday, June 12th. National Bankshares upped their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an outperform rating in a research report on Tuesday, May 28th. CIBC upped their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an outperform rating in a research report on Monday, May 6th. Finally, Royal Bank of Canada increased their price objective on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an outperform rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $31.17.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $24.49 on Friday. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of -53.24 and a beta of 0.94. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $30.32. The stock has a fifty day simple moving average of $25.39 and a 200 day simple moving average of $24.81. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.88.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). The firm had revenue of $875.00 million for the quarter, compared to the consensus estimate of $828.39 million. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. Sell-side analysts expect that Brookfield Renewable Partners will post -0.49 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 annualized dividend and a yield of 5.80%. Brookfield Renewable Partners’s payout ratio is -308.69%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Large investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia lifted its position in Brookfield Renewable Partners by 10.7% in the 4th quarter. Bank of Nova Scotia now owns 704,744 shares of the utilities provider’s stock valued at $18,515,000 after acquiring an additional 67,964 shares in the last quarter. FIL Ltd lifted its position in Brookfield Renewable Partners by 37.1% in the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after acquiring an additional 3,474,522 shares in the last quarter. National Bank of Canada FI lifted its position in Brookfield Renewable Partners by 7.1% in the 4th quarter. National Bank of Canada FI now owns 1,041,274 shares of the utilities provider’s stock valued at $26,964,000 after acquiring an additional 68,956 shares in the last quarter. Royal Bank of Canada increased its stake in Brookfield Renewable Partners by 0.9% in the 3rd quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock valued at $288,107,000 after buying an additional 117,246 shares during the last quarter. Finally, CCLA Investment Management increased its stake in Brookfield Renewable Partners by 37.2% in the 4th quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock valued at $65,558,000 after buying an additional 676,754 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

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.