National Bankshares Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $32.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective reduced by National Bankshares from $33.00 to $32.00 in a research report released on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the utilities provider’s stock.

Several other research analysts have also recently weighed in on BEP. JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Thursday, December 12th. StockNews.com raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. CIBC increased their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Stock Up 1.6 %

BEP stock opened at $22.95 on Wednesday. The firm’s 50-day moving average is $25.63 and its two-hundred day moving average is $25.51. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of -27.99 and a beta of 0.93. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the previous year, the firm earned ($0.14) EPS. On average, analysts forecast that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.19%. Brookfield Renewable Partners’s payout ratio is currently -173.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BEP. Intact Investment Management Inc. acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth about $42,331,000. Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Renewable Partners in the second quarter worth approximately $16,936,000. Liontrust Investment Partners LLP acquired a new stake in shares of Brookfield Renewable Partners during the second quarter worth approximately $14,862,000. Principal Financial Group Inc. grew its position in Brookfield Renewable Partners by 4.5% during the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after purchasing an additional 330,648 shares in the last quarter. Finally, Mirabella Financial Services LLP increased its stake in Brookfield Renewable Partners by 145.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after buying an additional 276,374 shares during the period. Hedge funds and other 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.