Brookfield Renewable Partners (NYSE:BEP) Research Coverage Started at Barclays

Barclays began coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a report issued on Wednesday morning, MarketBeat.com reports. The firm issued an equal weight rating and a $27.00 price target on the utilities provider’s stock.

Other research analysts also recently issued reports about the company. Scotiabank lifted their target price on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. CIBC dropped their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. National Bankshares reduced their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.18.

Brookfield Renewable Partners Trading Down 8.5 %

Shares of NYSE:BEP opened at $20.54 on Wednesday. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of -23.08 and a beta of 0.99. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The company’s fifty day simple moving average is $22.45 and its 200 day simple moving average is $24.11. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the prior year, the firm earned $0.01 EPS. As a group, research analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a dividend of $0.373 per share. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a yield of 7.26%. The ex-dividend date was Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors and hedge funds have recently made changes to their positions in BEP. BNP Paribas Financial Markets lifted its stake in shares of Brookfield Renewable Partners by 609.2% in the third quarter. BNP Paribas Financial Markets now owns 11,808 shares of the utilities provider’s stock worth $333,000 after acquiring an additional 10,143 shares during the period. HighTower Advisors LLC lifted its position in shares of Brookfield Renewable Partners by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after purchasing an additional 749 shares during the period. Stifel Financial Corp boosted its stake in shares of Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock valued at $880,000 after purchasing an additional 403 shares during the last quarter. National Bank of Canada FI increased its position in shares of Brookfield Renewable Partners by 2.6% during the third quarter. National Bank of Canada FI now owns 1,040,674 shares of the utilities provider’s stock worth $29,326,000 after buying an additional 25,916 shares during the period. Finally, Barclays PLC increased its position in shares of Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after buying an additional 2,036 shares during the period. 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.