Brookfield Renewable Partners (NYSE:BEP) Upgraded at StockNews.com

StockNews.com upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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

Brookfield Renewable Partners Stock Up 1.6 %

Shares of Brookfield Renewable Partners stock opened at $22.95 on Wednesday. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The company has a 50-day moving average of $25.63 and a 200 day moving average of $25.51. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of -27.99 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during 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 quarter in the previous year, the firm earned ($0.14) EPS. As a group, sell-side analysts anticipate that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

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

Institutional Trading of Brookfield Renewable Partners

Several hedge funds have recently bought and sold shares of the stock. Liontrust Investment Partners LLP bought a new position in shares of Brookfield Renewable Partners during the 2nd quarter valued at approximately $14,862,000. Gold Investment Management Ltd. increased its position in Brookfield Renewable Partners by 2.1% during the second quarter. Gold Investment Management Ltd. now owns 79,636 shares of the utilities provider’s stock valued at $1,970,000 after acquiring an additional 1,610 shares during the last quarter. HB Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners in the second quarter valued at $941,000. Principal Financial Group Inc. lifted its holdings in shares of Brookfield Renewable Partners by 0.9% in the 2nd quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock worth $180,203,000 after acquiring an additional 66,794 shares during the last quarter. Finally, NewGen Asset Management Ltd purchased a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth about $6,188,000. 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.