Scotiabank Increases Brookfield Renewable Partners (NYSE:BEP) Price Target to $31.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price hoisted by Scotiabank from $30.00 to $31.00 in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has an outperform rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, February 12th. StockNews.com downgraded shares of Brookfield Renewable Partners from a hold rating to a sell rating in a research note on Monday, March 4th. BMO Capital Markets lifted their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an outperform rating in a research report on Monday. National Bankshares increased their price target on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an outperform rating in a research report on Tuesday, January 9th. Finally, Raymond James decreased their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set a strong-buy rating for the company in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners currently has an average rating of Moderate Buy and a consensus price target of $30.75.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $26.63 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $32.76. The stock’s 50-day moving average is $22.51 and its 200-day moving average is $23.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Brookfield Renewable Partners had a return on equity of 1.31% and a net margin of 7.10%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm posted ($0.16) EPS. The business’s revenue was up 10.6% on a year-over-year basis. Research analysts anticipate that Brookfield Renewable Partners will post -0.01 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.33%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -219.56%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BEP. Gold Investment Management Ltd. lifted its position in Brookfield Renewable Partners by 3.0% during the first quarter. Gold Investment Management Ltd. now owns 78,026 shares of the utilities provider’s stock worth $1,815,000 after acquiring an additional 2,246 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Brookfield Renewable Partners by 2,229.4% during the first quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider’s stock worth $593,000 after purchasing an additional 24,412 shares during the period. Principal Financial Group Inc. lifted its holdings in Brookfield Renewable Partners by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 7,208,237 shares of the utilities provider’s stock worth $167,447,000 after purchasing an additional 302,274 shares during the last quarter. Verity & Verity LLC bought a new stake in Brookfield Renewable Partners in the 1st quarter valued at $252,000. Finally, PFG Investments LLC boosted its stake in Brookfield Renewable Partners by 11.5% in the 1st quarter. PFG Investments LLC now owns 74,592 shares of the utilities provider’s stock valued at $1,733,000 after purchasing an additional 7,710 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.