Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $32.00 at National Bankshares

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target trimmed by National Bankshares from $33.00 to $32.00 in a research note published on Wednesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

BEP has been the subject of a number of other research reports. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target for the company in a research note on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price target for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, CIBC increased their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $31.78.

Brookfield Renewable Partners Stock Performance

BEP stock opened at $22.64 on Wednesday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $25.75 and a 200-day moving average price of $25.57. The firm has a market cap of $6.45 billion, a PE ratio of -27.61 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the previous year, the company posted ($0.14) earnings per share. As a group, equities research analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 6.27%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.17%.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its holdings in Brookfield Renewable Partners by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 403 shares during the period. GAMMA Investing LLC raised its position in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after buying an additional 442 shares in the last quarter. HighTower Advisors LLC grew its position in Brookfield Renewable Partners by 1.6% during the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after buying an additional 749 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Brookfield Renewable Partners by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock valued at $394,000 after acquiring an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners during the third quarter worth about $28,000. 63.16% of the stock is currently owned by institutional investors.

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.