JPMorgan Chase & Co. Boosts Brookfield Renewable Partners (NYSE:BEP) Price Target to $31.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective boosted by JPMorgan Chase & Co. from $30.00 to $31.00 in a research note issued to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

Several other research analysts have also commented on BEP. TD Securities raised their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a buy rating in a report on Wednesday, May 29th. Scotiabank raised their target price on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a sector outperform rating in a research note on Wednesday, June 12th. Royal Bank of Canada reaffirmed an outperform rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. National Bankshares raised their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an outperform rating in a research report on Friday, July 19th. Finally, StockNews.com downgraded Brookfield Renewable Partners from a hold rating to a sell rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $31.90.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $28.30 on Wednesday. The company has a market cap of $8.07 billion, a P/E ratio of -61.52 and a beta of 0.93. The firm’s 50 day moving average is $24.99 and its two-hundred day moving average is $24.81. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $28.81. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. Brookfield Renewable Partners’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. Analysts expect that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Scarborough Advisors LLC acquired a new stake in Brookfield Renewable Partners in the fourth quarter valued at $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at about $31,000. Evermay Wealth Management LLC bought a new position in shares of Brookfield Renewable Partners during the first quarter worth about $49,000. Clear Point Advisors Inc. acquired a new position in Brookfield Renewable Partners in the first quarter worth about $49,000. Finally, PNC Financial Services Group Inc. increased its holdings in Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after buying an additional 900 shares during the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

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.