Brookfield Renewable Partners (NYSE:BEP) Shares Gap Up to $25.37

Brookfield Renewable Partners L.P. (NYSE:BEPGet Free Report) (TSE:BEP) gapped up before the market opened on Friday . The stock had previously closed at $25.37, but opened at $26.05. Brookfield Renewable Partners shares last traded at $26.02, with a volume of 34,419 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. CIBC boosted their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. StockNews.com assumed coverage on shares of Brookfield Renewable Partners in a research note on Friday, June 21st. They issued a “sell” rating on the stock. TD Securities boosted their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Royal Bank of Canada boosted their price objective 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, May 6th. Finally, BMO Capital Markets boosted their price objective on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.17.

Check Out Our Latest Stock Report on BEP

Brookfield Renewable Partners Stock Up 0.1 %

The firm’s fifty day moving average price is $26.27 and its two-hundred day moving average price is $24.77. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of -55.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.56 and a quick ratio of 0.56.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last announced its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.24). Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The company had revenue of $875.00 million for the quarter, compared to analyst estimates of $828.39 million. Sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -0.49 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were issued a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.59%. Brookfield Renewable Partners’s dividend payout ratio is currently -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors have recently made changes to their positions in BEP. Steward Partners Investment Advisory LLC increased its position in shares of Brookfield Renewable Partners by 8.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 750 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Brookfield Renewable Partners by 0.9% during the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock worth $2,017,000 after acquiring an additional 768 shares in the last quarter. Tidal Investments LLC increased its position in shares of Brookfield Renewable Partners by 2.5% during the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 894 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Brookfield Renewable Partners by 17.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after acquiring an additional 900 shares in the last quarter. Finally, SFE Investment Counsel increased its position in shares of Brookfield Renewable Partners by 2.1% during the fourth quarter. SFE Investment Counsel now owns 48,281 shares of the utilities provider’s stock worth $1,269,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 63.16% 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, 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.

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