Brookfield Renewable Partners (NYSE:BEP) PT Raised to $34.00 at CIBC

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective boosted by CIBC from $33.00 to $34.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an outperformer rating on the utilities provider’s stock.

A number of other analysts have also recently issued reports on BEP. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, National Bankshares increased their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Trading Down 0.2 %

NYSE:BEP opened at $27.71 on Tuesday. The stock has a market cap of $7.90 billion, a P/E ratio of -60.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The stock has a 50-day simple moving average of $26.12 and a 200-day simple moving average of $25.40.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. As a group, analysts anticipate that Brookfield Renewable Partners will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of large investors have recently modified their holdings of BEP. Triasima Portfolio Management inc. purchased a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth approximately $16,936,000. Liontrust Investment Partners LLP purchased a new position in Brookfield Renewable Partners in the 2nd quarter valued at approximately $14,862,000. Price T Rowe Associates Inc. MD increased its stake in Brookfield Renewable Partners by 103.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock valued at $27,214,000 after purchasing an additional 595,335 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in Brookfield Renewable Partners in the 2nd quarter valued at approximately $6,188,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $6,191,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

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.