National Bank Financial Upgrades Brookfield Renewable Partners (NYSE:BEP) to "Strong-Buy"

National Bank Financial upgraded shares of Brookfield Renewable Partners (NYSE:BEP - Free Report) TSE: BEP to a strong-buy rating in a report published on Sunday morning,Zacks.com reports.

BEP has been the subject of a number of other reports. National Bankshares decreased their target price on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. Scotiabank upped their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Wells Fargo & Company decreased their target price on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. CIBC cut their price target on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a report on Monday, May 5th. Finally, Wall Street Zen cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of "Moderate Buy" and an average target price of $29.13.

Brookfield Renewable Partners Stock Up 1.9%

Brookfield Renewable Partners stock traded up $0.49 during midday trading on Friday, hitting $26.29. The stock had a trading volume of 1,476,270 shares, compared to its average volume of 572,662. The business has a fifty day moving average price of $22.80 and a 200 day moving average price of $22.84. Brookfield Renewable Partners has a 12 month low of $19.29 and a 12 month high of $29.56. The stock has a market cap of $7.46 billion, a P/E ratio of -29.53 and a beta of 0.98. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued 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). The firm had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. Research analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -147.52%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds have recently modified their holdings of the stock. Advisors Capital Management LLC grew its stake in Brookfield Renewable Partners by 44.6% in the first quarter. Advisors Capital Management LLC now owns 393,847 shares of the utilities provider's stock valued at $8,728,000 after purchasing an additional 121,462 shares in the last quarter. SCS Capital Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth about $15,939,000. Goldman Sachs Group Inc. lifted its holdings in shares of Brookfield Renewable Partners by 57.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider's stock valued at $20,380,000 after buying an additional 333,789 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Brookfield Renewable Partners by 2.3% in the 1st quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider's stock valued at $373,164,000 after buying an additional 374,087 shares in the last quarter. Finally, Northern Right Capital Management L.P. acquired a new position in Brookfield Renewable Partners in the first quarter worth approximately $870,000. 63.16% of the stock is owned by institutional investors and hedge funds.

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.