Brookfield Renewable Partners (NYSE:BEP) Upgraded at UBS Group

UBS Group upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a neutral rating to a buy rating in a research note published on Monday morning, MarketBeat.com reports. They currently have $31.00 price objective on the utilities provider’s stock, up from their previous price objective of $24.00.

Several other research firms have also recently commented on BEP. Scotiabank boosted their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a sector outperform rating in a research note on Wednesday, June 12th. JPMorgan Chase & Co. upped their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock a neutral rating in a research report on Wednesday, September 25th. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an outperform rating in a research note on Friday, July 19th. Royal Bank of Canada restated an outperform rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, August 5th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a hold rating to a sell rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $32.50.

Brookfield Renewable Partners Trading Down 1.7 %

Shares of BEP stock opened at $27.77 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $7.91 billion, a P/E ratio of -60.36 and a beta of 0.94. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $28.81. The firm’s 50-day simple moving average is $25.19 and its 200-day simple moving average is $24.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm earned ($0.10) earnings per share. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities analysts forecast that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is currently -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of hedge funds have recently modified their holdings of the stock. FIL Ltd lifted its holdings in shares of Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after buying an additional 3,474,522 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Brookfield Renewable Partners by 1.4% during the 4th quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after purchasing an additional 173,402 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookfield Renewable Partners by 0.9% during the 2nd quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock valued at $180,203,000 after purchasing an additional 66,794 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Brookfield Renewable Partners by 0.6% in the 2nd quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after purchasing an additional 37,836 shares during the last quarter. Finally, CCLA Investment Management boosted its holdings in Brookfield Renewable Partners by 1.9% in the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after purchasing an additional 47,734 shares in the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

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.