Brookfield Renewable Partners (NYSE:BEP) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a hold rating to a sell rating in a report issued on Tuesday.

Other equities research analysts also recently issued reports about the company. National Bankshares reduced their target price on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Scotiabank increased their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. CIBC decreased their price target on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on 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. Finally, Wells Fargo & Company decreased their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Brookfield Renewable Partners Trading Down 2.2 %

Shares of Brookfield Renewable Partners stock opened at $22.86 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of -25.68 and a beta of 0.95. The business has a fifty day simple moving average of $22.25 and a 200-day simple moving average of $24.48. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data 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 return on equity of 0.03% and a negative net margin of 0.15%. During the same period last year, the business earned $0.01 earnings per share. On average, equities analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.53%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -167.42%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Brookfield Renewable Partners by 1.3% during the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider’s stock worth $375,248,000 after purchasing an additional 211,467 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Brookfield Renewable Partners by 23.8% during the 4th 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. Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after purchasing an additional 246,163 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Brookfield Renewable Partners by 4.7% during the 4th quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock worth $160,585,000 after purchasing an additional 315,272 shares in the last quarter. Finally, Cibc World Market Inc. raised its stake in shares of Brookfield Renewable Partners by 4.4% during the 4th quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after purchasing an additional 116,593 shares in the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

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.