Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $30.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target hoisted by BMO Capital Markets from $28.00 to $30.00 in a research report sent to investors on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

Other equities research analysts have also issued reports about the stock. Raymond James reduced their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a strong-buy rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. restated a neutral rating and issued a $28.00 price target (down from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. StockNews.com downgraded Brookfield Renewable Partners from a hold rating to a sell rating in a research note on Monday, March 4th. Finally, National Bankshares upped their price target on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an outperform rating in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $30.75.

Brookfield Renewable Partners Trading Up 2.0 %

Brookfield Renewable Partners stock opened at $26.89 on Monday. The firm has a 50 day moving average of $22.67 and a 200 day moving average of $24.03. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of -58.46 and a beta of 0.83. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $32.76. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.28%. Brookfield Renewable Partners’s dividend payout ratio is currently -219.56%.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently bought and sold shares of BEP. FIL Ltd raised its holdings in Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after buying an additional 3,474,522 shares during the period. CIBC Asset Management Inc raised its holdings in Brookfield Renewable Partners by 63.2% during the 4th quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock valued at $162,917,000 after buying an additional 2,394,853 shares during the period. CCLA Investment Management raised its holdings in Brookfield Renewable Partners by 37.2% during the 4th quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock valued at $65,558,000 after buying an additional 676,754 shares during the period. Invesco Ltd. increased its stake in Brookfield Renewable Partners by 36.0% in the third quarter. Invesco Ltd. now owns 1,851,866 shares of the utilities provider’s stock worth $40,260,000 after purchasing an additional 489,704 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Brookfield Renewable Partners by 6.4% in the fourth quarter. Principal Financial Group Inc. now owns 6,905,963 shares of the utilities provider’s stock worth $181,489,000 after purchasing an additional 415,667 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.