Brookfield Renewable Partners (NYSE:BEP) PT Raised to $34.00 at CIBC

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price upped by CIBC from $33.00 to $34.00 in a research report released on Tuesday, Benzinga reports. CIBC currently has an outperformer rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. National Bankshares raised their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $31.00 in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $27.71 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a fifty day moving average of $26.12 and a two-hundred day moving average of $25.40. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of -60.24 and a beta of 0.94. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The business’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) EPS. On average, analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -308.70%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Tyche Wealth Partners LLC purchased a new stake in Brookfield Renewable Partners during the third quarter valued at about $277,000. SFE Investment Counsel boosted its position in shares of Brookfield Renewable Partners by 3.4% in the third quarter. SFE Investment Counsel now owns 53,708 shares of the utilities provider’s stock worth $1,513,000 after buying an additional 1,781 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $272,000. International Assets Investment Management LLC purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $4,880,000. Finally, Private Advisor Group LLC boosted its position in shares of Brookfield Renewable Partners by 47.8% in the third quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider’s stock worth $917,000 after buying an additional 10,521 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.