CIBC Forecasts Strong Price Appreciation for Brookfield Renewable Partners (NYSE:BEP) Stock

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective increased by CIBC from $39.00 to $40.00 in a report issued on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the utilities provider’s stock.

BEP has been the subject of a number of other research reports. UBS Group upgraded shares of 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 report on Monday, September 30th. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target for the company in a research report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. National Bankshares dropped their target price 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, StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.44.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $22.62 on Thursday. 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’s 50 day moving average is $24.41 and its two-hundred day moving average is $25.20. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The firm has a market capitalization of $6.45 billion, a PE ratio of -27.59 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly 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 business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned ($0.14) earnings per share. Research analysts anticipate that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 6.28%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners in the third quarter worth about $28,000. Waverton Investment Management Ltd acquired a new position in shares of Brookfield Renewable Partners during the third quarter valued at approximately $178,000. Barclays PLC boosted its stake in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after buying an additional 2,036 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at about $206,000. 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.