Brookfield Renewable Partners (NYSE:BEP) Given New $48.00 Price Target at Raymond James

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price reduced by Raymond James from $52.00 to $48.00 in a research note released on Monday, BayStreet.CA reports. They currently have an outperform rating on the utilities provider’s stock.

Several other equities analysts have also weighed in on the company. Royal Bank of Canada lifted their price target on Brookfield Renewable Partners from $43.00 to $47.00 and gave the company a sector perform rating in a research note on Monday. Credit Suisse Group boosted their price objective on Brookfield Renewable Partners from $64.00 to $68.00 and gave the stock a neutral rating in a research note on Tuesday, July 21st. TheStreet upgraded Brookfield Renewable Partners from a d+ rating to a c rating in a research note on Friday, June 19th. TD Securities cut their price objective on Brookfield Renewable Partners from $60.00 to $48.00 and set a buy rating for the company in a research note on Friday, July 31st. Finally, Mizuho began coverage on Brookfield Renewable Partners in a research note on Thursday, May 14th. They set a neutral rating and a $49.00 price objective for the company. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $52.70.

Shares of Brookfield Renewable Partners stock traded down $0.26 on Monday, hitting $43.49. The company’s stock had a trading volume of 11,841 shares, compared to its average volume of 480,705. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.98 and a current ratio of 0.65. Brookfield Renewable Partners has a 1 year low of $30.09 and a 1 year high of $57.69. The firm has a fifty day moving average price of $49.24 and a 200-day moving average price of $47.91. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of -97.22 and a beta of 0.60.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, August 7th. The utilities provider reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.30). Brookfield Renewable Partners had a net margin of 1.42% and a return on equity of 0.25%.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 31st will be given a $0.434 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 3.99%.

Several hedge funds have recently bought and sold shares of the company. FIL Ltd grew its position in shares of Brookfield Renewable Partners by 13.9% in the second quarter. FIL Ltd now owns 11,762,551 shares of the utilities provider’s stock valued at $563,175,000 after purchasing an additional 1,431,777 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Brookfield Renewable Partners by 12.3% in the second quarter. CIBC Asset Management Inc now owns 3,138,145 shares of the utilities provider’s stock valued at $149,782,000 after purchasing an additional 342,920 shares in the last quarter. TD Asset Management Inc. grew its position in shares of Brookfield Renewable Partners by 9.9% in the second quarter. TD Asset Management Inc. now owns 2,762,159 shares of the utilities provider’s stock valued at $131,821,000 after purchasing an additional 248,715 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Renewable Partners by 1,223.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,243,318 shares of the utilities provider’s stock valued at $52,829,000 after purchasing an additional 1,149,362 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its position in shares of Brookfield Renewable Partners by 35.9% in the first quarter. Kayne Anderson Capital Advisors LP now owns 1,205,845 shares of the utilities provider’s stock valued at $51,229,000 after purchasing an additional 318,500 shares in the last quarter. Institutional investors and hedge funds own 57.68% 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, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

Further Reading: Outperform Rating

Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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