JPMorgan Chase & Co. Lowers Brookfield Renewable Partners (NYSE:BEP) Price Target to $28.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price trimmed by JPMorgan Chase & Co. from $30.00 to $28.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other research firms have also issued reports on BEP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. National Bankshares reduced their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, CIBC boosted their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $20.78 on Thursday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The firm has a fifty day simple moving average of $23.61 and a 200-day simple moving average of $24.96. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock 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 earnings results 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 firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the prior year, the firm earned ($0.14) EPS. On average, sell-side analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BEP. Intact Investment Management Inc. acquired a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $42,331,000. Principal Financial Group Inc. boosted its stake in Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after buying an additional 330,648 shares in the last quarter. Mirabella Financial Services LLP raised its stake in Brookfield Renewable Partners by 145.2% during the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after acquiring an additional 276,374 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Brookfield Renewable Partners during the third quarter valued at $6,191,000. Finally, Toronto Dominion Bank boosted its stake in shares of Brookfield Renewable Partners by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock valued at $48,905,000 after purchasing an additional 173,882 shares in the last quarter. Institutional investors and hedge funds 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.