Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $32.00 at Raymond James

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective reduced by Raymond James from $33.00 to $32.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports. They currently have a strong-buy rating on the utilities provider’s stock.

Several other analysts also recently issued reports on the company. National Bankshares raised their price target on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an outperform rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. reiterated a neutral rating and set a $28.00 price target (down previously from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, February 12th. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a hold rating to a sell rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $30.50.

Brookfield Renewable Partners Stock Up 0.2 %

BEP stock opened at $21.34 on Thursday. The company has a market capitalization of $6.10 billion, a P/E ratio of -66.69 and a beta of 0.80. The firm has a 50 day simple moving average of $22.46 and a 200-day simple moving average of $23.86. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.85. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. Brookfield Renewable Partners’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. On average, equities research analysts predict that Brookfield Renewable Partners will post -0.01 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 6.65%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -421.88%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BEP. Coronation Fund Managers Ltd. grew its stake in Brookfield Renewable Partners by 5.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 189,015 shares of the utilities provider’s stock valued at $4,109,000 after acquiring an additional 10,066 shares in the last quarter. Evanson Asset Management LLC purchased a new position in Brookfield Renewable Partners during the third quarter valued at approximately $321,000. Commonwealth Equity Services LLC increased its stake in Brookfield Renewable Partners by 3.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 34,683 shares of the utilities provider’s stock valued at $754,000 after buying an additional 1,047 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Brookfield Renewable Partners in the 3rd quarter worth approximately $244,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Brookfield Renewable Partners by 12.1% during the 3rd quarter. Mackenzie Financial Corp now owns 176,224 shares of the utilities provider’s stock valued at $3,583,000 after buying an additional 19,083 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.

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.