Brookfield Renewable Partners (NYSE:BEP) Given New $32.00 Price Target at Raymond James

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective trimmed by Raymond James from $33.00 to $32.00 in a research report released on Thursday, BayStreet.CA reports. The firm currently has a strong-buy rating on the utilities provider’s stock.

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

Brookfield Renewable Partners Price Performance

Shares of BEP stock traded up $0.12 on Thursday, hitting $21.42. 20,747 shares of the company’s stock were exchanged, compared to its average volume of 483,727. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $32.76. The company has a 50 day moving average of $22.51 and a 200 day moving average of $23.84.

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

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.42 annualized dividend and a yield of 6.63%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several 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% during the third quarter. Coronation Fund Managers Ltd. now owns 189,015 shares of the utilities provider’s stock worth $4,109,000 after acquiring an additional 10,066 shares during the period. Evanson Asset Management LLC purchased a new stake in Brookfield Renewable Partners in the third quarter worth $321,000. Commonwealth Equity Services LLC increased its position 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 worth $754,000 after buying an additional 1,047 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Brookfield Renewable Partners in the third quarter worth $244,000. Finally, Mackenzie Financial Corp increased its position in Brookfield Renewable Partners by 12.1% in the third quarter. Mackenzie Financial Corp now owns 176,224 shares of the utilities provider’s stock worth $3,583,000 after buying an additional 19,083 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.