Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $42.00 at Morgan Stanley

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price raised by Morgan Stanley from $38.00 to $42.00 in a research report report published on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

A number of other research firms have also weighed in on BEP. National Bank Financial increased their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Desjardins upgraded Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the company a “neutral” rating in a research report on Monday, February 2nd. Barclays set a $28.00 price objective on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, Wall Street Zen upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average price target of $35.21.

Brookfield Renewable Partners Stock Down 0.7%

Shares of NYSE BEP opened at $30.62 on Monday. The firm’s fifty day moving average is $30.32 and its 200 day moving average is $28.65. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $32.78. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80. The company has a market cap of $9.35 billion, a price-to-earnings ratio of -117.78 and a beta of 1.13.

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 for the quarter, beating the consensus estimate of ($0.34) by $0.88. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. On average, equities research analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current 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 given a dividend of $0.392 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is presently -603.85%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently bought and sold shares of BEP. Purpose Unlimited Inc. bought a new stake in Brookfield Renewable Partners during the 4th quarter valued at approximately $12,576,000. Ovata Capital Management Ltd grew its holdings in shares of Brookfield Renewable Partners by 3.3% during the 4th quarter. Ovata Capital Management Ltd now owns 180,781 shares of the utilities provider’s stock worth $4,876,000 after acquiring an additional 5,855 shares during the period. Ketron Financial bought a new position in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $305,000. Mackenzie Financial Corp raised its position in shares of Brookfield Renewable Partners by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 48,359 shares of the utilities provider’s stock worth $1,297,000 after acquiring an additional 1,623 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Brookfield Renewable Partners in the 4th quarter valued at approximately $1,073,000. 63.16% of the stock is 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.