Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $30.00 at National Bankshares

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price decreased by National Bankshares from $32.00 to $30.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the utilities provider’s stock.

Several other research firms have also recently issued reports on BEP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. StockNews.com raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 3rd. Scotiabank decreased their price target 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. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Buy” and an average price target of $30.40.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $22.04 on Tuesday. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $22.55 and a two-hundred day moving average price of $24.61. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The company has a market capitalization of $6.29 billion, a P/E ratio of -24.76 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its 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 prior year, the company posted $0.01 earnings per share. As a group, research analysts expect that Brookfield Renewable Partners will post -0.99 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 6.77%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners’s payout ratio is -167.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in 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 valued at $192,605,000 after buying an additional 1,628,524 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brookfield Renewable Partners by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock valued at $178,943,000 after buying an additional 246,163 shares in the last quarter. Bank of Montreal Can lifted its position in Brookfield Renewable Partners by 0.4% during the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after buying an additional 26,189 shares in the last quarter. Cibc World Market Inc. lifted its position in Brookfield Renewable Partners by 4.4% during the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock valued at $62,647,000 after buying an additional 116,593 shares in the last quarter. Finally, CCLA Investment Management lifted its position in Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after buying an additional 49,553 shares in the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

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.