Brookfield Renewable Partners (NYSE:BEP) Price Target Cut to $28.00 by Analysts at JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective cut by JPMorgan Chase & Co. from $30.00 to $28.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other analysts have also recently issued reports on the company. CIBC upped their price objective on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. National Bankshares reduced their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $21.40 on Thursday. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of -26.09 and a beta of 0.95. The firm’s fifty day moving average price is $23.44 and its 200 day moving average price is $24.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the previous year, the firm posted ($0.14) earnings per share. On average, research analysts forecast that Brookfield Renewable Partners will post -0.88 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Stifel Financial Corp raised its holdings in shares of Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 403 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Brookfield Renewable Partners by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after acquiring an additional 749 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after acquiring an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth $28,000. 63.16% of the stock is owned by institutional investors and hedge funds.

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.