Scotiabank Issues Positive Forecast for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective hoisted by Scotiabank from $28.00 to $29.00 in a report issued on Thursday, Marketbeat.com reports. They currently have an outperform rating on the utilities provider’s stock.

Several other analysts also recently commented on BEP. CIBC decreased their target price on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. National Bankshares reduced their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $30.50.

Brookfield Renewable Partners Price Performance

BEP opened at $22.38 on Thursday. The stock has a fifty day moving average price of $22.42 and a 200 day moving average price of $24.58. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of -25.15 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business posted $0.01 earnings per share. Analysts forecast that Brookfield Renewable Partners will post -0.99 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

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

Institutional Trading of Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently bought and sold shares of BEP. GAMMA Investing LLC lifted its stake in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $28,000. Promus Capital LLC acquired a new stake in shares of Brookfield Renewable Partners during the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp grew its holdings in shares of Brookfield Renewable Partners by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 537 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in shares of Brookfield Renewable Partners during the fourth quarter valued at approximately $68,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

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.