Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $32.00 at CIBC

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective boosted by CIBC from $30.00 to $32.00 in a report issued on Monday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Brookfield Renewable Partners from a hold rating to a sell rating in a research report on Monday, March 4th. BMO Capital Markets raised their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an outperform rating in a research note on Monday. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $28.00 price objective (down from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. National Bankshares raised their price objective 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. Finally, Raymond James reduced their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set a strong-buy rating on the stock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners currently has a consensus rating of Moderate Buy and a consensus price target of $30.75.

Brookfield Renewable Partners Trading Up 2.0 %

NYSE BEP opened at $26.89 on Monday. The stock’s 50-day simple moving average is $22.67 and its two-hundred day simple moving average is $24.03. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $32.76. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of -58.46 and a beta of 0.83.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a $0.355 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.28%. Brookfield Renewable Partners’s payout ratio is presently -219.56%.

Institutional Trading of Brookfield Renewable Partners

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its holdings in shares of Brookfield Renewable Partners by 8.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 750 shares during the period. PNC Financial Services Group Inc. grew its holdings in Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 900 shares during the period. Clearstead Advisors LLC increased its stake in shares of Brookfield Renewable Partners by 8.5% during the third quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 967 shares in the last quarter. Baystate Wealth Management LLC purchased a new position in shares of Brookfield Renewable Partners during the fourth quarter valued at approximately $26,000. Finally, SFE Investment Counsel boosted its position in shares of Brookfield Renewable Partners by 2.1% in the 4th quarter. SFE Investment Counsel now owns 48,281 shares of the utilities provider’s stock worth $1,269,000 after purchasing an additional 1,000 shares in the last quarter. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Company Profile

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.