Brookfield Renewable Partners (NYSE:BEP) Upgraded by StockNews.com to Hold Rating

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 Monday morning.

BEP has been the subject of a number of other research reports. 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. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. CIBC upped their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Finally, UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.78.

Brookfield Renewable Partners Stock Down 0.9 %

BEP stock opened at $24.01 on Monday. 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 company’s 50-day moving average price is $26.22 and its 200 day moving average price is $25.76. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a market cap of $6.85 billion, a P/E ratio of -29.28 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 the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. During the same period last year, the firm earned ($0.14) EPS. On average, research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEP. GAMMA Investing LLC boosted its position 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 worth $27,000 after acquiring an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Brookfield Renewable Partners during the third quarter worth approximately $28,000. Waverton Investment Management Ltd acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $178,000. Barclays PLC grew its stake in shares of Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after buying an additional 2,036 shares during the period. Finally, Creative Planning acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth $206,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.