National Bank Financial Raises Brookfield Renewable Partners (NYSE:BEP) Price Target to $39.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective boosted by National Bank Financial from $37.00 to $39.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have a sector perform rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on BEP. Credit Suisse Group cut Brookfield Renewable Partners from an outperform rating to a neutral rating in a research report on Thursday, July 25th. TD Securities upped their price target on Brookfield Renewable Partners from $40.00 to $43.00 and gave the company a buy rating in a research report on Monday. Raymond James upped their price target on Brookfield Renewable Partners from $31.00 to $36.00 and gave the company a market perform rating in a research report on Thursday, August 1st. Zacks Investment Research cut Brookfield Renewable Partners from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada upped their price target on Brookfield Renewable Partners from $33.00 to $37.00 and gave the company a sector perform rating in a research report on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $40.11.

BEP stock traded up $0.33 during midday trading on Monday, hitting $41.67. The company’s stock had a trading volume of 5,572 shares, compared to its average volume of 184,655. Brookfield Renewable Partners has a 1 year low of $24.51 and a 1 year high of $41.57. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.60. The stock’s 50-day moving average price is $37.68 and its 200 day moving average price is $34.42. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 320.54 and a beta of 0.48.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.21). Brookfield Renewable Partners had a net margin of 9.16% and a return on equity of 1.80%. The firm had revenue of $787.00 million for the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 30th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 9.89%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, August 29th. Brookfield Renewable Partners’s payout ratio is presently 1,584.62%.

Several large investors have recently added to or reduced their stakes in BEP. Tortoise Capital Advisors L.L.C. raised its stake in shares of Brookfield Renewable Partners by 106.9% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,167 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 603 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Brookfield Renewable Partners by 56.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,097 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 396 shares during the period. Lenox Wealth Advisors LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at $43,000. US Bancorp DE raised its stake in shares of Brookfield Renewable Partners by 50.0% during the 2nd quarter. US Bancorp DE now owns 2,700 shares of the utilities provider’s stock valued at $94,000 after purchasing an additional 900 shares during the period. Finally, Advisor Group Inc. raised its stake in shares of Brookfield Renewable Partners by 55.0% during the 2nd quarter. Advisor Group Inc. now owns 4,168 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 1,479 shares during the period. Institutional investors own 53.95% 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, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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