Brookfield Renewable Partners (NYSE:BEP) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a sell rating to a hold rating in a research note released on Monday.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. CIBC reduced their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday. National Bankshares lowered their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Scotiabank reduced their price objective on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.60.

Brookfield Renewable Partners Price Performance

NYSE BEP opened at $22.28 on Monday. The company has a market cap of $6.35 billion, a PE ratio of -25.03 and a beta of 0.95. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $22.85 and its two-hundred day simple moving average is $24.67. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) 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 quarter in the previous year, the company posted $0.01 EPS. Research analysts predict that Brookfield Renewable Partners will post -0.76 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s payout ratio is currently -159.55%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp lifted its position in Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after buying an additional 403 shares during the last quarter. GAMMA Investing LLC raised its stake 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 acquiring an additional 442 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Brookfield Renewable Partners by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after acquiring an additional 749 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Brookfield Renewable Partners by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $28,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Company Profile

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.