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 report report published on Thursday morning, BayStreet.CA reports. They currently have a strong-buy rating on the utilities provider’s stock.

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

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $21.34 on Thursday. 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 firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -66.69 and a beta of 0.80. The firm’s fifty day simple moving average is $22.46 and its 200 day simple moving average is $23.87. 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 posted its earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) EPS. As a group, equities research analysts expect that Brookfield Renewable Partners will post -0.01 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. Brookfield Renewable Partners’s dividend payout ratio is currently -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently modified their holdings of the business. Verity & Verity LLC bought a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at about $252,000. PFG Investments LLC grew its position in Brookfield Renewable Partners by 11.5% in the 1st quarter. PFG Investments LLC now owns 74,592 shares of the utilities provider’s stock worth $1,733,000 after purchasing an additional 7,710 shares during the last quarter. Everett Harris & Co. CA bought a new position in Brookfield Renewable Partners in the 1st quarter worth about $286,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Brookfield Renewable Partners in the 1st quarter worth about $31,000. Finally, Ervin Investment Management LLC grew its position in Brookfield Renewable Partners by 3.3% in the 1st quarter. Ervin Investment Management LLC now owns 45,792 shares of the utilities provider’s stock worth $1,064,000 after purchasing an additional 1,469 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

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.