Brookfield Renewable Partners’ (BEP) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $36.00 price target on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. Zacks Research lowered shares of Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. UBS Group reissued a “buy” rating and set a $40.00 price target (up from $39.00) on shares of Brookfield Renewable Partners in a research report on Friday, June 12th. National Bank Financial boosted their price target on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Morgan Stanley upped their price objective on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $41.00 target price on shares of Brookfield Renewable Partners in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.93.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock opened at $33.12 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. Brookfield Renewable Partners has a 12-month low of $24.13 and a 12-month high of $38.12. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of -106.83 and a beta of 1.10. The business’s 50-day simple moving average is $34.61 and its 200 day simple moving average is $32.53.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. As a group, research analysts anticipate that Brookfield Renewable Partners will post -1.55 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a $0.392 dividend. This represents a $1.57 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, May 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -506.45%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEP. Groupe la Francaise grew its stake in Brookfield Renewable Partners by 194.5% in the 1st quarter. Groupe la Francaise now owns 159,894 shares of the utilities provider’s stock valued at $5,214,000 after buying an additional 105,599 shares during the last quarter. Bank of America Corp DE raised its stake in Brookfield Renewable Partners by 413.2% in the 1st quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider’s stock worth $31,767,000 after purchasing an additional 783,620 shares in the last quarter. KCM Investment Advisors LLC bought a new stake in shares of Brookfield Renewable Partners in the first quarter valued at approximately $217,000. Dempze Nancy E acquired a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth $237,000. Finally, Cannell & Spears LLC acquired a new stake in Brookfield Renewable Partners during the first quarter worth about $280,000. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.