Brookfield Renewable Partners (NYSE:BEP) Receives “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $36.00 target price on the utilities provider’s stock.

BEP has been the subject of several other reports. Morgan Stanley boosted their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $41.00 price target on shares of Brookfield Renewable Partners in a research report on Friday. TD Securities reiterated a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. Zacks Research downgraded Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. Finally, TD upped their target price on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.79.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $32.15 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. Brookfield Renewable Partners has a 52 week low of $24.13 and a 52 week high of $38.12. The stock has a market capitalization of $9.65 billion, a PE ratio of -103.71 and a beta of 1.10. The firm has a 50 day moving average of $34.67 and a two-hundred day moving average of $32.46.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. On average, research analysts predict that Brookfield Renewable Partners will post -1.53 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a $0.392 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.9%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -506.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BEP. Kelleher Financial Advisors purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $26,000. Russell Investments Group Ltd. purchased a new stake in Brookfield Renewable Partners during the second quarter worth approximately $34,000. CENTRAL TRUST Co acquired a new position in Brookfield Renewable Partners in the first quarter valued at approximately $55,000. Triumph Capital Management acquired a new position in Brookfield Renewable Partners in the third quarter valued at approximately $55,000. Finally, Global Retirement Partners LLC increased its stake in Brookfield Renewable Partners by 284.5% in the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,633 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

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.