Brookfield Renewable Partners’ (BEP) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $31.00 price objective on the utilities provider’s stock.

A number of other equities analysts have also issued reports on BEP. JPMorgan Chase & Co. cut their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. National Bankshares cut their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. 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. Scotiabank cut their target price on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. One research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $30.60.

Brookfield Renewable Partners Price Performance

BEP opened at $22.28 on Monday. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of -25.03 and a beta of 0.95. The company has a fifty day simple moving average of $22.85 and a 200 day simple moving average of $24.67.

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, topping 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 quarter last year, the business earned $0.01 EPS. Equities research analysts expect that Brookfield Renewable Partners will post -0.76 EPS 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. Shareholders of record on Friday, February 28th will be issued a $0.373 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 6.70%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -159.55%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Brookfield Renewable Partners by 86.5% during 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. Creative Planning bought a new stake in Brookfield Renewable Partners in the third quarter valued at $206,000. Aspiriant LLC acquired a new position in shares of Brookfield Renewable Partners during the third quarter valued at $241,000. Sequoia Financial Advisors LLC bought a new position in shares of Brookfield Renewable Partners during the third quarter worth about $6,191,000. Finally, Private Advisor Group LLC increased its holdings in shares of Brookfield Renewable Partners by 47.8% in the 3rd quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 10,521 shares during the period. 63.16% of the stock is owned by 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.