Raymond James Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $32.00

Brookfield Renewable Partners (NYSE:BEP - Free Report) TSE: BEP had its target price decreased by Raymond James from $33.00 to $32.00 in a research note published on Thursday morning, BayStreet.CA reports. Raymond James currently has a strong-buy rating on the utilities provider's stock.

Several other analysts also recently commented on BEP. StockNews.com downgraded shares of Brookfield Renewable Partners from a hold rating to a sell rating in a research report on Monday, March 4th. National Bankshares upped their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an outperform rating in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. reissued a neutral rating and issued a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Brookfield Renewable Partners currently has an average rating of Moderate Buy and a consensus price target of $30.50.

Brookfield Renewable Partners Trading Down 1.7 %

Brookfield Renewable Partners stock traded down $0.36 during trading hours on Thursday, reaching $21.30. The company had a trading volume of 805,290 shares, compared to its average volume of 489,478. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of -66.56 and a beta of 0.80. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $32.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57. The company has a 50-day moving average price of $22.51 and a 200 day moving average price of $23.84.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.08 billion. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.16) EPS. Equities analysts forecast that Brookfield Renewable Partners will post -0.01 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 6.67%. The ex-dividend date was Wednesday, February 28th. This is a boost from Brookfield Renewable Partners's previous quarterly dividend of $0.34. Brookfield Renewable Partners's dividend payout ratio is -421.88%.

Institutional Trading of Brookfield Renewable Partners

Large investors have recently added to or reduced their stakes in the business. Baystate Wealth Management LLC purchased a new position in shares of Brookfield Renewable Partners during the 4th quarter worth $26,000. Scarborough Advisors LLC bought a new position in Brookfield Renewable Partners in the 4th quarter worth $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Brookfield Renewable Partners during the first quarter valued at $31,000. Northwest Financial Advisors purchased a new position in Brookfield Renewable Partners during the fourth quarter valued at $65,000. Finally, Principal Securities Inc. bought a new stake in Brookfield Renewable Partners during the fourth quarter valued at about $77,000. 63.16% of the stock is currently owned by institutional investors.

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.