Brookfield Renewable Partners (NYSE:BEP) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a sell rating to a hold rating in a report issued on Wednesday.

Other analysts also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC increased their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Trading Down 3.7 %

Brookfield Renewable Partners stock opened at $22.64 on Wednesday. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The firm’s 50 day moving average price is $25.75 and its 200-day moving average price is $25.57. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $6.45 billion, a P/E ratio of -27.61 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same period in the previous year, the company posted ($0.14) earnings per share. On average, equities analysts predict that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 6.27%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners in the third quarter worth about $28,000. Barclays PLC raised its position in Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after buying an additional 2,036 shares during the last quarter. Toronto Dominion Bank lifted its stake in Brookfield Renewable Partners by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock valued at $48,905,000 after acquiring an additional 173,882 shares during the period. National Bank of Canada FI boosted its holdings in shares of Brookfield Renewable Partners by 2.6% in the 3rd quarter. National Bank of Canada FI now owns 1,040,674 shares of the utilities provider’s stock valued at $29,326,000 after acquiring an additional 25,916 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 403 shares during the period. 63.16% of the stock is owned by hedge funds and other 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.