Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $31.00 at CIBC

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price trimmed by CIBC from $32.00 to $31.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an outperformer rating on the utilities provider’s stock.

A number of other analysts have also weighed in on the company. Wells Fargo & Company lowered their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday. JPMorgan Chase & Co. reduced 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. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. Finally, Scotiabank decreased their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $30.60.

Brookfield Renewable Partners Stock Down 4.4 %

NYSE BEP opened at $20.92 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 debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market cap of $5.97 billion, a PE ratio of -23.51 and a beta of 0.95. The firm has a 50-day simple moving average of $23.03 and a 200 day simple moving average of $24.71.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the prior year, the firm posted $0.01 EPS. On average, research analysts forecast that Brookfield Renewable Partners will post -0.76 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 7.13%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BEP. CIBC Asset Management Inc boosted its position in shares of Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after purchasing an additional 1,628,524 shares in the last quarter. Intact Investment Management Inc. bought a new position in Brookfield Renewable Partners during the third quarter worth about $42,331,000. Principal Financial Group Inc. grew its stake in Brookfield Renewable Partners by 4.5% in the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after acquiring an additional 330,648 shares during the period. Mirabella Financial Services LLP increased its holdings in shares of Brookfield Renewable Partners by 145.2% in the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after acquiring an additional 276,374 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $6,191,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.