Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP's stock price traded up 7.9% on Monday . The company traded as high as $25.86 and last traded at $25.86. 1,085,765 shares traded hands during mid-day trading, an increase of 92% from the average session volume of 566,454 shares. The stock had previously closed at $23.96.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. National Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday. CIBC cut their price target on 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. Wall Street Zen lowered Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th. Barclays started coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price objective for the company. Finally, Wells Fargo & Company lowered their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $29.13.
Check Out Our Latest Stock Analysis on BEP
Brookfield Renewable Partners Stock Up 0.5%
The company has a market capitalization of $7.39 billion, a P/E ratio of -29.27 and a beta of 0.98. The firm's 50 day moving average price is $22.99 and its two-hundred day moving average price is $22.88. 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 the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. The business had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.
Brookfield Renewable Partners Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 annualized dividend and a dividend yield of 5.73%. Brookfield Renewable Partners's dividend payout ratio is presently -147.52%.
Hedge Funds Weigh In On Brookfield Renewable Partners
Several institutional investors and hedge funds have recently modified their holdings of BEP. Golden State Wealth Management LLC lifted its stake in shares of 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 buying an additional 579 shares during the last quarter. Promus Capital LLC acquired a new position in Brookfield Renewable Partners in the fourth quarter valued at about $37,000. Rossby Financial LCC bought a new position in Brookfield Renewable Partners in the first quarter valued at about $41,000. NBC Securities Inc. bought a new position in Brookfield Renewable Partners in the first quarter valued at about $42,000. Finally, Jones Financial Companies Lllp grew its position in Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after acquiring an additional 537 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.
About Brookfield Renewable Partners
(
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.
Further Reading
Before you consider Brookfield Renewable Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Brookfield Renewable Partners wasn't on the list.
While Brookfield Renewable Partners currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
