National Bankshares Raises Brookfield Renewable Partners (NYSE:BEP) Price Target to $30.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective upped by National Bankshares from $28.00 to $30.00 in a research note released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an outperform rating in a research note on Monday. JPMorgan Chase & Co. reaffirmed 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. BMO Capital Markets upped their price objective on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an outperform rating in a report on Monday. Scotiabank upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an outperform rating in a report on Monday. Finally, Raymond James decreased their price objective 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $30.75.

Brookfield Renewable Partners Trading Up 2.0 %

NYSE BEP opened at $26.89 on Monday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year 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. The company has a market capitalization of $7.69 billion, a PE ratio of -58.46 and a beta of 0.83. The firm’s fifty day simple moving average is $22.67 and its 200-day simple moving average is $24.03.

Brookfield Renewable Partners Announces Dividend

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

Institutional Investors Weigh In On Brookfield Renewable Partners

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