Brookfield Renewable Partners (NYSE:BEP) Hits New 12-Month High at $41.96

Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP)’s stock price reached a new 52-week high on Monday . The company traded as high as $41.96 and last traded at $41.95, with a volume of 12748 shares traded. The stock had previously closed at $41.59.

BEP has been the topic of a number of analyst reports. Zacks Investment Research cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. TD Securities increased their price objective on Brookfield Renewable Partners from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their price objective on Brookfield Renewable Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a research note on Monday, September 30th. Raymond James set a $40.00 price objective on Brookfield Renewable Partners and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets set a $39.00 price objective on Brookfield Renewable Partners and gave the company a “hold” rating in a research note on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $40.11.

The stock has a market cap of $7.44 billion, a PE ratio of 323.00 and a beta of 0.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day moving average price of $38.13 and a two-hundred day moving average price of $34.63.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 9.81%. The ex-dividend date was Thursday, August 29th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.52. Brookfield Renewable Partners’s dividend payout ratio is 1,584.62%.

Several institutional investors have recently made changes to their positions in the stock. Lenox Wealth Advisors LLC bought a new position in shares of Brookfield Renewable Partners during the third quarter valued at approximately $43,000. Mackenzie Financial Corp raised its holdings in shares of Brookfield Renewable Partners by 18.0% during the second quarter. Mackenzie Financial Corp now owns 129,400 shares of the utilities provider’s stock valued at $4,476,000 after acquiring an additional 19,700 shares in the last quarter. Griffin Asset Management Inc. bought a new position in shares of Brookfield Renewable Partners during the second quarter valued at approximately $194,000. Royal Bank of Canada raised its holdings in shares of Brookfield Renewable Partners by 2.5% during the second quarter. Royal Bank of Canada now owns 8,295,423 shares of the utilities provider’s stock valued at $286,956,000 after acquiring an additional 204,510 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Brookfield Renewable Partners by 4.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 81,457 shares of the utilities provider’s stock valued at $2,842,000 after acquiring an additional 3,282 shares in the last quarter. Institutional investors own 53.95% of the company’s stock.

About Brookfield Renewable Partners (NYSE:BEP)

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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