Brookfield Renewable Partners (NYSE:BEP) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a neutral rating to an overweight rating in a report released on Thursday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $30.00 price target on the utilities provider’s stock.

Several other research analysts have also commented on the company. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $31.00 in a research report on Monday, September 30th. CIBC raised their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $31.89.

Brookfield Renewable Partners Stock Down 0.2 %

BEP opened at $23.79 on Thursday. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The firm has a 50 day moving average price of $25.93 and a 200 day moving average price of $25.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $6.78 billion, a PE ratio of -29.01 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The business had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 company earned ($0.14) EPS. Sell-side analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid 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 5.97%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.17%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BEP. Principal Financial Group Inc. increased its position in shares of Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after purchasing an additional 330,648 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Brookfield Renewable Partners by 0.6% in the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after buying an additional 37,836 shares during the last quarter. Bank of Montreal Can raised its stake in Brookfield Renewable Partners by 0.4% during the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after buying an additional 26,189 shares in the last quarter. CCLA Investment Management raised its stake in Brookfield Renewable Partners by 1.9% during the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after buying an additional 47,734 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Brookfield Renewable Partners by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after buying an additional 67,777 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

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.