Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $29.00 at Scotiabank

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price boosted by Scotiabank from $28.00 to $29.00 in a research note released on Thursday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

A number of other equities research analysts have also recently issued reports on BEP. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. CIBC dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. National Bankshares reduced their target price on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday. StockNews.com cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $30.50.

Brookfield Renewable Partners Stock Up 0.7 %

NYSE BEP opened at $22.38 on Thursday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -25.15 and a beta of 0.95. The stock’s 50 day moving average is $22.42 and its two-hundred day moving average is $24.58. 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) (TSE:BEP) last announced its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period last year, the business posted $0.01 EPS. Equities analysts forecast that Brookfield Renewable Partners will post -0.99 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.373 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 6.67%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -159.55%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BEP. GAMMA Investing LLC grew its position in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after buying an additional 442 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Brookfield Renewable Partners in the third quarter valued at approximately $28,000. Promus Capital LLC bought a new position in Brookfield Renewable Partners in the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp grew its holdings in Brookfield Renewable Partners by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 537 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at $68,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

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.