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

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target upped by National Bankshares from $30.00 to $32.00 in a report published on Tuesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

BEP has been the topic of several other research reports. JPMorgan Chase & Co. reaffirmed a neutral rating and set a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. CIBC raised their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an outperform rating in a research note on Monday, May 6th. Scotiabank raised their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an outperform rating in a research note on Monday, May 6th. BMO Capital Markets raised their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an outperform rating in a research note on Monday, May 6th. Finally, Royal Bank of Canada raised their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an outperform rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $31.08.

Brookfield Renewable Partners Stock Performance

BEP stock opened at $27.54 on Tuesday. The business’s fifty day moving average is $24.25 and its 200-day moving average is $24.63. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.88. The company has a market cap of $7.85 billion, a P/E ratio of -59.87 and a beta of 0.82. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $32.28.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). The company had revenue of $875.00 million during the quarter, compared to analyst estimates of $828.39 million. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. Equities research analysts forecast that Brookfield Renewable Partners will post -0.49 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Renewable Partners’s payout ratio is currently -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of BEP. FIL Ltd grew its holdings in Brookfield Renewable Partners by 37.1% during the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after purchasing an additional 3,474,522 shares during the period. CIBC Asset Management Inc lifted its position in Brookfield Renewable Partners by 63.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock worth $162,917,000 after acquiring an additional 2,394,853 shares during the last quarter. CCLA Investment Management lifted its position in Brookfield Renewable Partners by 37.2% during the fourth quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock worth $65,558,000 after acquiring an additional 676,754 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Brookfield Renewable Partners by 103.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after acquiring an additional 595,335 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Brookfield Renewable Partners by 36.0% during the third quarter. Invesco Ltd. now owns 1,851,866 shares of the utilities provider’s stock worth $40,260,000 after acquiring an additional 489,704 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

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.