Brookfield Renewable Partners’ (BEP) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Brookfield Renewable Partners (NYSE:BEPFree Report) (TSE:BEP) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $28.00 target price on the utilities provider’s stock, down from their prior target price of $36.00.

Other equities analysts also recently issued reports about the stock. UBS Group downgraded shares of Brookfield Renewable Partners from a buy rating to a neutral rating and cut their price target for the company from $34.00 to $25.00 in a report on Friday, November 17th. Scotiabank cut their price target on shares of Brookfield Renewable Partners from $38.00 to $30.00 and set an outperform rating on the stock in a report on Wednesday, October 25th. Desjardins cut their price target on shares of Brookfield Renewable Partners from $43.00 to $39.00 and set a hold rating on the stock in a report on Wednesday, October 25th. StockNews.com downgraded shares of Brookfield Renewable Partners from a hold rating to a sell rating in a report on Monday, February 5th. Finally, National Bankshares upped their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an outperform rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $30.91.

View Our Latest Research Report on Brookfield Renewable Partners

Brookfield Renewable Partners Stock Up 0.9 %

Shares of NYSE BEP opened at $24.14 on Monday. The firm’s 50-day moving average price is $25.91 and its 200-day moving average price is $24.86. The company has a current ratio of 0.16, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of -75.44 and a beta of 0.85. Brookfield Renewable Partners has a 12-month low of $19.97 and a 12-month high of $32.76.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last announced its earnings results 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 net margin of 12.23% and a return on equity of 2.23%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.16) EPS. On average, equities research analysts anticipate that Brookfield Renewable Partners will post 0.2 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, February 29th will be given a dividend of $0.355 per share. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. The ex-dividend date is Wednesday, February 28th. This represents a $1.42 dividend on an annualized basis and a yield of 5.88%. Brookfield Renewable Partners’s dividend payout ratio is presently -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of BEP. Bank of Montreal Can purchased a new stake in Brookfield Renewable Partners during the second quarter valued at approximately $186,066,000. BROOKFIELD Corp ON raised its holdings in shares of Brookfield Renewable Partners by 7.5% in the second quarter. BROOKFIELD Corp ON now owns 73,897,686 shares of the utilities provider’s stock worth $2,179,243,000 after buying an additional 5,148,270 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Brookfield Renewable Partners by 36.7% in the second quarter. Royal Bank of Canada now owns 13,135,145 shares of the utilities provider’s stock worth $387,355,000 after buying an additional 3,523,830 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Brookfield Renewable Partners by 170.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,530,214 shares of the utilities provider’s stock worth $133,552,000 after buying an additional 2,853,217 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Brookfield Renewable Partners by 14.3% in the second quarter. 1832 Asset Management L.P. now owns 10,659,034 shares of the utilities provider’s stock worth $314,335,000 after buying an additional 1,333,635 shares during the last quarter. Hedge funds and other institutional investors own 60.36% of the company’s stock.

Brookfield Renewable Partners Company Profile

(Get Free Report)

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

Further Reading

Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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