Shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) have been assigned a consensus rating of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $38.44.
BEP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Brookfield Renewable Partners from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, October 5th. National Bank Financial upped their price target on Brookfield Renewable Partners from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 18th. BMO Capital Markets restated a “hold” rating and set a $35.00 price target on shares of Brookfield Renewable Partners in a research note on Friday, October 20th. GMP Securities restated a “hold” rating and set a $34.50 price target on shares of Brookfield Renewable Partners in a research note on Friday, October 20th. Finally, CIBC cut Brookfield Renewable Partners from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, November 2nd.
Large investors have recently bought and sold shares of the stock. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Brookfield Renewable Partners by 8.2% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 19,230 shares of the utilities provider’s stock valued at $644,000 after acquiring an additional 1,450 shares in the last quarter. Guardian Capital Advisors LP boosted its stake in Brookfield Renewable Partners by 2.7% in the second quarter. Guardian Capital Advisors LP now owns 57,771 shares of the utilities provider’s stock valued at $2,372,000 after acquiring an additional 1,546 shares in the last quarter. Commonwealth Equity Services Inc boosted its stake in shares of Brookfield Renewable Partners by 19.7% during the third quarter. Commonwealth Equity Services Inc now owns 13,333 shares of the utilities provider’s stock worth $446,000 after buying an additional 2,193 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Brookfield Renewable Partners during the second quarter worth about $109,000. Finally, Bank of Nova Scotia Trust Co. boosted its stake in shares of Brookfield Renewable Partners by 2.4% during the third quarter. Bank of Nova Scotia Trust Co. now owns 232,606 shares of the utilities provider’s stock worth $7,797,000 after buying an additional 5,528 shares during the period. 58.37% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Thursday, November 30th were issued a $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 5.46%. The ex-dividend date was Wednesday, November 29th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.47. Brookfield Renewable Partners’s dividend payout ratio is -1,558.33%.
Brookfield Renewable Partners declared that its board has approved a stock repurchase plan on Friday, December 22nd that allows the company to repurchase 9,000,000 outstanding shares. This repurchase authorization allows the utilities provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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Brookfield Renewable Partners Company Profile
Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.
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