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 research note issued to investors on Monday.

A number of other research analysts also recently issued reports on BEP. Wells Fargo & Company reduced their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday. National Bankshares dropped their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. CIBC reduced their price objective on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Brookfield Renewable Partners has a consensus rating of “Buy” and a consensus target price of $30.60.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $20.92 on Monday. The company has a fifty day moving average of $23.03 and a 200-day moving average of $24.71. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of -23.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.

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 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 quarter in the previous year, the company posted $0.01 earnings per share. Equities research analysts expect that Brookfield Renewable Partners will post -0.76 EPS for the current 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 paid a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 7.13%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew 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 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 in the third quarter worth about $28,000. Allworth Financial LP bought a new position in shares of Brookfield Renewable Partners in the fourth quarter worth approximately $68,000. Waverton Investment Management Ltd purchased a new stake in shares of Brookfield Renewable Partners during the third quarter valued at approximately $178,000. Finally, Barclays PLC increased its position in shares of Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 2,036 shares in the last quarter. 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.