JPMorgan Chase & Co. Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $28.00

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

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

Brookfield Renewable Partners Trading Up 2.9 %

NYSE:BEP opened at $21.40 on Thursday. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a fifty day moving average price of $23.44 and a two-hundred day moving average price of $24.91. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of -26.09 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. During the same quarter last year, the business earned ($0.14) EPS. As a group, sell-side analysts anticipate that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $28,000. Waverton Investment Management Ltd purchased a new position in Brookfield Renewable Partners in the third quarter valued at approximately $178,000. Barclays PLC lifted its position in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after buying an additional 2,036 shares in the last quarter. Finally, Creative Planning purchased a new stake in Brookfield Renewable Partners during the third quarter worth approximately $206,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Company Profile

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.