Brookfield Renewable Partners (NYSE:BEP) Price Target Cut to $32.00 by Analysts at Raymond James

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lowered by Raymond James from $33.00 to $32.00 in a report issued on Thursday morning, BayStreet.CA reports. Raymond James currently has a strong-buy rating on the utilities provider’s stock.

BEP has been the subject of a number of other research reports. JPMorgan Chase & Co. reiterated a neutral rating and issued a $28.00 price target (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. National Bankshares raised their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an outperform rating in a report on Tuesday, January 9th. Finally, StockNews.com downgraded shares of Brookfield Renewable Partners from a hold rating to a sell rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of Moderate Buy and an average price target of $30.50.

Brookfield Renewable Partners Stock Performance

Shares of BEP traded up $0.12 during trading hours on Thursday, reaching $21.42. The company had a trading volume of 20,747 shares, compared to its average volume of 483,727. The firm has a 50 day simple moving average of $22.51 and a 200-day simple moving average of $23.84. 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 12-month low of $19.92 and a 12-month high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.08 billion. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) EPS. As a group, equities analysts expect that Brookfield Renewable Partners will post -0.01 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a $0.355 dividend. The ex-dividend date was Wednesday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. This represents a $1.42 annualized dividend and a dividend yield of 6.63%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds have recently modified their holdings of the stock. Baystate Wealth Management LLC purchased a new position in Brookfield Renewable Partners in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new position in Brookfield Renewable Partners in the fourth quarter valued at approximately $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Brookfield Renewable Partners in the first quarter valued at approximately $31,000. Northwest Financial Advisors purchased a new position in Brookfield Renewable Partners in the fourth quarter valued at approximately $65,000. Finally, Principal Securities Inc. purchased a new position in Brookfield Renewable Partners in the fourth quarter valued at approximately $77,000. 63.16% of the stock is owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

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.