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

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target reduced by Raymond James from $33.00 to $32.00 in a research note released on Thursday, BayStreet.CA reports. They currently have a strong-buy rating on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reissued a neutral rating and issued a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. National Bankshares upped their price target on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an outperform rating in a report on Tuesday, January 9th. Finally, StockNews.com cut Brookfield Renewable Partners from a hold rating to a sell rating in a report on Monday, March 4th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $30.50.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $21.34 on Thursday. The stock has a market cap of $6.10 billion, a PE ratio of -66.69 and a beta of 0.80. The business has a 50-day simple moving average of $22.46 and a 200-day simple moving average of $23.87. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) EPS. On average, equities analysts expect that Brookfield Renewable Partners will post -0.01 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.355 dividend. The ex-dividend date was Wednesday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. This represents a $1.42 dividend on an annualized basis and a yield of 6.65%. Brookfield Renewable Partners’s dividend payout ratio is currently -421.88%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BEP. Coronation Fund Managers Ltd. lifted its holdings in Brookfield Renewable Partners by 5.6% in the third quarter. Coronation Fund Managers Ltd. now owns 189,015 shares of the utilities provider’s stock valued at $4,109,000 after acquiring an additional 10,066 shares during the last quarter. Evanson Asset Management LLC acquired a new position in Brookfield Renewable Partners in the third quarter valued at approximately $321,000. Commonwealth Equity Services LLC lifted its holdings in Brookfield Renewable Partners by 3.1% in the third quarter. Commonwealth Equity Services LLC now owns 34,683 shares of the utilities provider’s stock valued at $754,000 after acquiring an additional 1,047 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in Brookfield Renewable Partners in the third quarter valued at approximately $244,000. Finally, Mackenzie Financial Corp lifted its stake in Brookfield Renewable Partners by 12.1% during the third quarter. Mackenzie Financial Corp now owns 176,224 shares of the utilities provider’s stock worth $3,583,000 after purchasing an additional 19,083 shares in the last quarter. 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.