National Bank Financial Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $37.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target trimmed by National Bank Financial from $39.00 to $37.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

BEP has been the topic of several other reports. Scotiabank reaffirmed an “outperform” rating and issued a $42.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a research report on Friday, May 29th. Zacks Research lowered Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $41.00 price target on shares of Brookfield Renewable Partners in a report on Friday, July 17th. UBS Group reaffirmed a “buy” rating and issued a $40.00 price objective (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Wednesday, June 24th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.79.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $33.17 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.80 and a quick ratio of 0.75. Brookfield Renewable Partners has a 12 month low of $24.13 and a 12 month high of $38.12. The company has a fifty day moving average price of $33.97 and a two-hundred day moving average price of $32.88. The company has a market cap of $9.96 billion, a PE ratio of -72.12 and a beta of 1.11.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. Research analysts expect that Brookfield Renewable Partners will post -1.55 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio is currently -341.30%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors and hedge funds have recently bought and sold shares of BEP. S&CO Inc. acquired a new stake in Brookfield Renewable Partners in the 2nd quarter worth $347,000. Clearstead Trust LLC bought a new stake in shares of Brookfield Renewable Partners during the second quarter valued at approximately $308,000. Groupe la Francaise raised its stake in shares of Brookfield Renewable Partners by 194.5% in the first quarter. Groupe la Francaise now owns 159,894 shares of the utilities provider’s stock valued at $5,214,000 after purchasing an additional 105,599 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Brookfield Renewable Partners by 413.2% in the first quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider’s stock valued at $31,767,000 after purchasing an additional 783,620 shares in the last quarter. Finally, KCM Investment Advisors LLC bought a new position in Brookfield Renewable Partners in the first quarter worth $217,000. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.