Brookfield Renewable Partners (NYSE:BEP) Given New $28.00 Price Target at Scotiabank

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lowered by Scotiabank from $32.00 to $28.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a sector outperform rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the stock. National Bankshares cut their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $31.00 in a research report on Monday, September 30th. CIBC upped their price objective on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. lowered their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $20.78 on Thursday. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The stock’s 50 day moving average is $23.61 and its 200-day moving average is $24.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of -25.34 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same period last year, the business posted ($0.14) earnings per share. Sell-side analysts forecast that Brookfield Renewable Partners will post -0.88 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 6.83%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s payout ratio is -173.17%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently made changes to their positions in the stock. APG Asset Management N.V. increased its stake in Brookfield Renewable Partners by 0.3% in the second quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock valued at $40,327,000 after acquiring an additional 5,388 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Renewable Partners by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock valued at $6,988,000 after acquiring an additional 1,333 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Brookfield Renewable Partners during the 2nd quarter valued at about $359,000. GAMMA Investing LLC grew its position in 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 acquiring an additional 442 shares during the last quarter. Finally, Creative Planning purchased a new position in Brookfield Renewable Partners in the 3rd quarter worth approximately $206,000. Institutional investors own 63.16% of the company’s stock.

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.