Raymond James Financial cut shares of Brookfield Renewable Partners (NYSE:BEP - Free Report) TSE: BEP from a strong-buy rating to a moderate buy rating in a report published on Thursday,Zacks.com reports.
Several other equities analysts have also recently commented on the stock. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. Barclays assumed coverage on shares of Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 price objective for the company. Wells Fargo & Company dropped their price target on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, CIBC decreased their price objective on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.67.
Check Out Our Latest Research Report on BEP
Brookfield Renewable Partners Stock Up 1.3%
NYSE:BEP traded up $0.34 during mid-day trading on Thursday, reaching $27.19. The stock had a trading volume of 556,190 shares, compared to its average volume of 580,731. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of -26.92 and a beta of 0.99. Brookfield Renewable Partners has a 1-year low of $19.29 and a 1-year high of $29.56. The stock's 50 day simple moving average is $25.07 and its two-hundred day simple moving average is $23.19. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.51 and a quick ratio of 0.51.
Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. The business had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. Equities analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.
Brookfield Renewable Partners Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Friday, May 30th. Brookfield Renewable Partners's payout ratio is presently -147.52%.
Hedge Funds Weigh In On Brookfield Renewable Partners
Institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its holdings in Brookfield Renewable Partners by 103.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock worth $25,000 after acquiring an additional 579 shares during the last quarter. Rossby Financial LCC bought a new position in Brookfield Renewable Partners during the first quarter worth $41,000. NBC Securities Inc. acquired a new position in Brookfield Renewable Partners during the first quarter worth $42,000. Northwestern Mutual Wealth Management Co. raised its holdings in Brookfield Renewable Partners by 136.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider's stock worth $60,000 after buying an additional 1,576 shares during the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Brookfield Renewable Partners in the first quarter valued at about $69,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.
About Brookfield Renewable Partners
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Get Free Report)
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.
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