Brookfield Renewable Partners (NYSE:BEP) Price Target Cut to $28.00 by Analysts at Scotiabank

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target trimmed by Scotiabank from $32.00 to $28.00 in a research note released on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

A number of other research firms have also commented on BEP. JPMorgan Chase & Co. dropped their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. National Bankshares cut their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, CIBC increased their target price on Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.78.

Brookfield Renewable Partners Stock Up 0.2 %

Brookfield Renewable Partners stock opened at $20.68 on Thursday. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of -25.22 and a beta of 0.95. The company’s 50 day simple moving average is $23.19 and its 200 day simple moving average is $24.78.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same period last year, the firm earned ($0.14) EPS. As a group, sell-side analysts anticipate that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

Institutional Trading of Brookfield Renewable Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Renewable Partners by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock valued at $6,988,000 after purchasing an additional 1,333 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Brookfield Renewable Partners in the second quarter valued at approximately $359,000. GAMMA Investing LLC lifted its position in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares during the last quarter. Creative Planning acquired a new position in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $206,000. Finally, Aspiriant LLC bought a new stake in Brookfield Renewable Partners in the 3rd quarter valued at $241,000. 63.16% of the stock is owned by 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.