National Bankshares Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $30.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target reduced by National Bankshares from $32.00 to $30.00 in a research report report published on Tuesday,BayStreet.CA reports. They currently have an outperform rating on the utilities provider’s stock.

Several other equities analysts have also recently issued reports on the company. StockNews.com upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Monday, February 3rd. Scotiabank decreased their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. CIBC decreased their price target on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company decreased their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $30.50.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $22.38 on Tuesday. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The firm has a 50 day moving average of $22.42 and a 200-day moving average of $24.58. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $6.38 billion, a P/E ratio of -25.15 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the previous year, the company earned $0.01 earnings per share. As a group, sell-side analysts anticipate that Brookfield Renewable Partners will post -0.99 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 6.67%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -159.55%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $28,000. Promus Capital LLC acquired a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth about $37,000. Jones Financial Companies Lllp raised its position in shares of Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 537 shares during the period. Finally, Allworth Financial LP acquired a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth about $68,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.