Brookfield Renewable Partners (NYSE:BEP) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $31.00 price target on the utilities provider’s stock.

A number of other research firms also recently issued reports on BEP. National Bankshares raised their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an outperform rating in a report on Friday, July 19th. UBS Group upgraded shares of Brookfield Renewable Partners from a neutral rating to a buy rating and lifted their price target for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. StockNews.com downgraded Brookfield Renewable Partners from a hold rating to a sell rating in a research report on Friday, August 2nd. Scotiabank upped their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a sector outperform rating in a research report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a neutral rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of Moderate Buy and a consensus price target of $32.50.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $25.89 on Wednesday. The firm has a fifty day simple moving average of $25.51 and a two-hundred day simple moving average of $25.10. The firm has a market cap of $7.38 billion, a PE ratio of -40.45 and a beta of 0.94. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. On average, equities analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable Partners’s payout ratio is currently -221.88%.

Institutional Trading of Brookfield Renewable Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares in the last quarter. Scarborough Advisors LLC bought a new position in Brookfield Renewable Partners during the fourth quarter valued at approximately $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Brookfield Renewable Partners during the 1st quarter valued at approximately $31,000. Evermay Wealth Management LLC bought a new stake in Brookfield Renewable Partners in the 1st quarter worth approximately $49,000. Finally, Clear Point Advisors Inc. bought a new stake in Brookfield Renewable Partners in the 1st quarter worth approximately $49,000. 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.