Brookfield Renewable Partners L.P. (NYSE:BEP) Downgraded by CIBC to “Neutral”

CIBC downgraded shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) from a sector outperform rating to a neutral rating in a report released on Thursday, November 2nd, MarketBeat.com reports.

BEP has been the subject of a number of other reports. Zacks Investment Research downgraded Brookfield Renewable Partners L.P. from a buy rating to a hold rating in a report on Friday, October 6th. BMO Capital Markets reaffirmed a hold rating and set a $33.00 price target on shares of Brookfield Renewable Partners L.P. in a report on Wednesday, July 12th. Brookfield Renewable Partners LP reduced their target price on Brookfield Renewable Partners L.P. to $42.00 and set a market perform rating for the company in a report on Thursday, August 17th. TD Securities boosted their target price on Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the company a buy rating in a report on Tuesday, August 8th. Finally, Raymond James Financial, Inc. downgraded Brookfield Renewable Partners L.P. to a market perform rating and set a $33.00 target price for the company. in a report on Monday, July 17th. Twelve research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $38.39.

Brookfield Renewable Partners L.P. (NYSE BEP) traded up $0.06 during trading hours on Thursday, reaching $33.62. The company had a trading volume of 51,267 shares, compared to its average volume of 65,425. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.74. Brookfield Renewable Partners L.P. has a 52-week low of $28.13 and a 52-week high of $36.00.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.468 per share. This is a boost from Brookfield Renewable Partners L.P.’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, November 29th. This represents a $1.87 annualized dividend and a yield of 5.57%. Brookfield Renewable Partners L.P.’s payout ratio is presently -1,558.33%.

Several large investors have recently made changes to their positions in the company. Bank of Nova Scotia Trust Co. boosted its stake in shares of Brookfield Renewable Partners L.P. by 2.4% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 232,606 shares of the utilities provider’s stock worth $7,797,000 after acquiring an additional 5,528 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Brookfield Renewable Partners L.P. during the 3rd quarter worth approximately $721,000. Baldwin Investment Management LLC purchased a new stake in shares of Brookfield Renewable Partners L.P. during the 3rd quarter worth approximately $296,000. Hillsdale Investment Management Inc. boosted its stake in shares of Brookfield Renewable Partners L.P. by 12,388.9% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 22,480 shares of the utilities provider’s stock worth $753,000 after acquiring an additional 22,300 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in shares of Brookfield Renewable Partners L.P. by 0.4% during the 3rd quarter. TD Asset Management Inc. now owns 3,384,550 shares of the utilities provider’s stock worth $113,148,000 after acquiring an additional 12,896 shares in the last quarter. 57.71% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Renewable Partners L.P.

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

Analyst Recommendations for Brookfield Renewable Partners L.P. (NYSE:BEP)

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