National Bankshares Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $30.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective reduced by National Bankshares from $32.00 to $30.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the utilities provider’s stock.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. StockNews.com upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Scotiabank decreased their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Buy” and an average target price of $30.50.

Brookfield Renewable Partners Stock Up 0.7 %

Shares of Brookfield Renewable Partners stock opened at $22.38 on Tuesday. The business’s 50 day simple moving average is $22.42 and its 200 day simple moving average is $24.58. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The firm has a market cap of $6.38 billion, a PE ratio of -25.15 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period last year, the firm posted $0.01 EPS. On average, analysts predict that Brookfield Renewable Partners will post -0.99 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 6.67%. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners’s payout ratio is currently -159.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Brookfield Renewable Partners in the 3rd quarter valued at $28,000. Promus Capital LLC bought a new stake in Brookfield Renewable Partners in the 4th quarter valued at $37,000. Jones Financial Companies Lllp boosted its stake in Brookfield Renewable Partners by 26.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 537 shares during the period. Finally, Allworth Financial LP bought a new stake in Brookfield Renewable Partners in the 4th quarter valued at $68,000. 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.