Brookfield Renewable Energy Partners (TSE:BEP) Lifted to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Brookfield Renewable Energy Partners (TSE:BEP) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning, MarketBeat.com reports. UBS Group currently has C$31.00 price objective on the stock, up from their previous price objective of C$24.00.

Brookfield Renewable Energy Partners Stock Performance

Brookfield Renewable Energy Partners (TSE:BEP) last released its quarterly earnings results on Friday, August 2nd. The company reported C($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.56). The business had revenue of C$1.14 billion during the quarter, compared to analysts’ expectations of C$1.25 billion.

Brookfield Renewable Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a dividend of $0.486 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Brookfield Renewable Energy Partners’s previous quarterly dividend of $0.48. This represents a $1.94 annualized dividend and a dividend yield of ∞.

Brookfield Renewable Energy Partners Company Profile

Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 20,000 megawatts of installed capacity and an approximately 23,000 megawatt development pipeline.