Brookfield Renewable Partners (NYSE:BEP) Coverage Initiated by Analysts at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce began coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued an outperformer rating and a $37.00 price objective on the utilities provider’s stock.

A number of other equities analysts have also commented on BEP. Mizuho set a $31.00 price target on shares of Brookfield Renewable Partners and gave the stock a “neutral” rating in a report on Monday, February 2nd. UBS Group restated a “buy” rating and set a $39.00 price target (up from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th. National Bank Financial lifted their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $38.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average price target of $34.93.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $30.42 on Wednesday. The stock has a market cap of $8.64 billion, a P/E ratio of -117.00 and a beta of 1.13. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $29.42 and its two-hundred day moving average price is $28.12. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $32.78.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of ($0.34) by $0.88. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. As a group, equities analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.392 dividend. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -603.85%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of large investors have recently bought and sold shares of the stock. S&CO Inc. bought a new position in shares of Brookfield Renewable Partners in the second quarter worth approximately $255,000. Liontrust Investment Partners LLP purchased a new stake in Brookfield Renewable Partners during the 2nd quarter valued at $24,180,000. HB Wealth Management LLC bought a new stake in Brookfield Renewable Partners in the 3rd quarter worth $979,000. NINE MASTS CAPITAL Ltd purchased a new position in shares of Brookfield Renewable Partners in the second quarter valued at about $5,552,000. Finally, Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 16.2% during the third quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock valued at $261,189,000 after acquiring an additional 1,414,837 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.