National Bankshares Issues Positive Forecast for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lifted by National Bankshares from $33.00 to $34.00 in a report published on Monday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the stock. Barclays set a $28.00 price objective on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Friday, January 23rd. BMO Capital Markets set a $36.00 price target on shares of Brookfield Renewable Partners and gave the stock an “outperform” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, December 29th. Finally, UBS Group reaffirmed a “buy” rating and issued a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.79.

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock opened at $29.84 on Monday. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $32.72. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average price of $27.92 and a 200-day moving average price of $27.35. The company has a market cap of $9.13 billion, a PE ratio of -114.77 and a beta of 1.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.18% and a net margin of 11.11%.The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. Equities analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.392 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.3%. Brookfield Renewable Partners’s payout ratio is presently -573.08%.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Brookfield Renewable Partners by 16.2% during the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after acquiring an additional 1,414,837 shares during the period. Liontrust Investment Partners LLP purchased a new stake in Brookfield Renewable Partners during the second quarter valued at about $24,180,000. CIBC Bancorp USA Inc. purchased a new stake in Brookfield Renewable Partners during the third quarter valued at about $19,944,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Brookfield Renewable Partners by 177.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 984,840 shares of the utilities provider’s stock worth $25,126,000 after purchasing an additional 629,940 shares during the period. Finally, Picton Mahoney Asset Management purchased a new position in shares of Brookfield Renewable Partners in the second quarter worth about $13,899,000. 63.16% of the stock is currently owned by institutional investors.

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.