Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $40.00 at JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target hoisted by JPMorgan Chase & Co. from $34.00 to $40.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other research analysts also recently commented on BEP. National Bank Financial upped their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce assumed coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, March 4th. They set an “outperformer” rating and a $37.00 price objective for the company. Zacks Research raised shares of Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Wall Street Zen raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Mizuho set a $31.00 price objective on shares of Brookfield Renewable Partners and gave the company a “neutral” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus price target of $35.71.

Brookfield Renewable Partners Price Performance

NYSE:BEP opened at $34.67 on Thursday. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of -133.35 and a beta of 1.09. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average is $31.95 and its two-hundred day moving average is $29.60. Brookfield Renewable Partners has a 12-month low of $21.11 and a 12-month high of $35.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. Research analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were paid a dividend of $0.392 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s dividend payout ratio is currently -603.85%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BEP. Kelleher Financial Advisors purchased a new stake in Brookfield Renewable Partners during the third quarter worth approximately $26,000. Russell Investments Group Ltd. purchased a new stake in Brookfield Renewable Partners during the second quarter worth approximately $34,000. Root Financial Partners LLC purchased a new stake in Brookfield Renewable Partners during the third quarter worth approximately $46,000. Hilltop National Bank grew its stake in Brookfield Renewable Partners by 37.6% during the third quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock worth $47,000 after buying an additional 500 shares during the period. Finally, Triumph Capital Management purchased a new stake in Brookfield Renewable Partners during the third quarter worth approximately $55,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.