Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $35.00

by · The Cerbat Gem

Brookfield Renewable Partners (NYSE:BEP – Free Report) (TSE:BEP) had its price objective increased by TD Securities from $31.00 to $35.00 in a research report sent to investors on Monday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the utilities provider’s stock.

BEP has been the subject of a number of other research reports. UBS Group reaffirmed a “buy” rating and set a $38.00 target price (up previously from $29.00) on shares of Brookfield Renewable Partners in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. National Bankshares increased their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Royal Bank Of Canada increased their price target on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $35.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.54.

View Our Latest Report on Brookfield Renewable Partners

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $30.36 on Monday. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $32.72. The company has a 50 day simple moving average of $27.10 and a two-hundred day simple moving average of $25.70. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of -31.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.44 and a current ratio of 0.44.

Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last announced its earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.25. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.61 billion. Analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be issued a $0.373 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.49 annualized dividend and a yield of 4.9%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -156.84%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEP. Cambridge Investment Research Advisors Inc. boosted its holdings in Brookfield Renewable Partners by 16.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider’s stock worth $574,000 after purchasing an additional 3,722 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Brookfield Renewable Partners by 7.0% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 24,600 shares of the utilities provider’s stock worth $545,000 after purchasing an additional 1,600 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Brookfield Renewable Partners in the first quarter worth approximately $1,019,000. Private Advisor Group LLC boosted its holdings in Brookfield Renewable Partners by 45.9% in the first quarter. Private Advisor Group LLC now owns 23,424 shares of the utilities provider’s stock worth $519,000 after purchasing an additional 7,373 shares during the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new stake in Brookfield Renewable Partners in the first quarter worth approximately $222,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

(Get Free Report)

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.

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