JPMorgan Chase & Co. Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $29.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target lowered by JPMorgan Chase & Co. from $31.00 to $29.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

A number of other research analysts also recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $31.00 in a report on Monday, September 30th. National Bankshares boosted their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.30.

Brookfield Renewable Partners Trading Up 1.6 %

Shares of BEP stock opened at $28.34 on Thursday. 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 company has a market capitalization of $8.08 billion, a price-to-earnings ratio of -61.61 and a beta of 0.94. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $28.81. The company has a 50-day simple moving average of $25.82 and a two-hundred day simple moving average of $25.26.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data 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 business had revenue of $1.48 billion during 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 firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. Research analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is presently -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of large investors have recently modified their holdings of BEP. Wellington Management Group LLP lifted its stake in Brookfield Renewable Partners by 5.5% in the 4th quarter. Wellington Management Group LLP now owns 84,030 shares of the utilities provider’s stock worth $2,218,000 after purchasing an additional 4,383 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Brookfield Renewable Partners by 17.9% during 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 period. Evanson Asset Management LLC boosted its stake in Brookfield Renewable Partners by 29.7% during the first quarter. Evanson Asset Management LLC now owns 19,123 shares of the utilities provider’s stock valued at $444,000 after buying an additional 4,375 shares during the period. Epiq Partners LLC grew its position in Brookfield Renewable Partners by 11.4% during the first quarter. Epiq Partners LLC now owns 73,128 shares of the utilities provider’s stock worth $1,699,000 after buying an additional 7,500 shares in the last quarter. Finally, Ervin Investment Management LLC increased its stake in Brookfield Renewable Partners by 3.3% in the 1st quarter. Ervin Investment Management LLC now owns 45,792 shares of the utilities provider’s stock worth $1,064,000 after acquiring an additional 1,469 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.