Brookfield Renewable Partners’ (BEP) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a report issued on Monday,Benzinga reports. They currently have a $31.00 price objective on the utilities provider’s stock.

BEP has been the subject of several other reports. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. Wells Fargo & Company cut their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Scotiabank dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Finally, CIBC increased their price target on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Brookfield Renewable Partners has a consensus rating of “Buy” and a consensus price target of $30.60.

Brookfield Renewable Partners Stock Down 4.4 %

Shares of Brookfield Renewable Partners stock opened at $20.92 on Monday. The company’s 50 day moving average price is $23.03 and its 200-day moving average price is $24.71. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week 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 capitalization of $5.97 billion, a price-to-earnings ratio of -23.51 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data 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 quarter in the prior year, the business earned $0.01 earnings per share. Equities research analysts forecast 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 given a $0.373 dividend. This is a positive change 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 yield of 7.13%. Brookfield Renewable Partners’s payout ratio is -167.42%.

Institutional Trading of Brookfield Renewable Partners

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth $28,000. Allworth Financial LP purchased a new position in shares of Brookfield Renewable Partners in the 4th quarter worth $68,000. Waverton Investment Management Ltd purchased a new stake in Brookfield Renewable Partners during the third quarter valued at $178,000. Finally, Barclays PLC lifted its holdings in Brookfield Renewable Partners by 40.6% in 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 during the period. 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.