Brookfield Renewable Partners (NYSE:BEP) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a neutral rating to an overweight rating in a research report released on Thursday morning, Marketbeat.com reports. The brokerage currently has $30.00 price objective on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. CIBC lifted their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Monday, December 9th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $31.89.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $23.79 on Thursday. 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’s 50-day moving average price is $25.93 and its two-hundred day moving average price is $25.65. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The stock has a market capitalization of $6.78 billion, a P/E ratio of -29.01 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate 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 last year, the business posted ($0.14) EPS. As a group, sell-side analysts forecast that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.97%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several hedge funds have recently modified their holdings of BEP. Stifel Financial Corp lifted its holdings in shares of Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock valued at $880,000 after buying an additional 403 shares during the period. GAMMA Investing LLC raised its position in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Brookfield Renewable Partners by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after acquiring an additional 749 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Brookfield Renewable Partners by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after buying an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $28,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

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.