Brookfield Renewable Partners (NYSE:BEP) Price Target Increased to $30.00 by Analysts at National Bankshares

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target lifted by National Bankshares from $28.00 to $30.00 in a report published on Monday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the utilities provider’s stock.

A number of other equities research analysts have also commented on BEP. Raymond James dropped their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a strong-buy rating on the stock in a report on Thursday, April 25th. BMO Capital Markets raised their price objective on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an outperform rating in a report on Monday. CIBC raised their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an outperform rating in a report on Monday. JPMorgan Chase & Co. restated a neutral rating and set a $28.00 price objective (down from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a hold rating to a sell rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $30.75.

Brookfield Renewable Partners Trading Up 2.0 %

Shares of NYSE BEP opened at $26.89 on Monday. The company’s fifty day moving average is $22.67 and its 200-day moving average is $24.03. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of -58.46 and a beta of 0.83. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $32.76. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.355 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 annualized dividend and a yield of 5.28%. Brookfield Renewable Partners’s payout ratio is currently -219.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BEP. FIL Ltd grew its position in shares of Brookfield Renewable Partners by 37.1% in the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after acquiring an additional 3,474,522 shares during the period. CIBC Asset Management Inc grew its position in shares of Brookfield Renewable Partners by 63.2% in the 4th quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock valued at $162,917,000 after acquiring an additional 2,394,853 shares during the period. CCLA Investment Management grew its position in shares of Brookfield Renewable Partners by 37.2% in the 4th quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock valued at $65,558,000 after acquiring an additional 676,754 shares during the period. Invesco Ltd. grew its position in shares of Brookfield Renewable Partners by 36.0% in the 3rd quarter. Invesco Ltd. now owns 1,851,866 shares of the utilities provider’s stock valued at $40,260,000 after acquiring an additional 489,704 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Brookfield Renewable Partners by 6.4% in the 4th quarter. Principal Financial Group Inc. now owns 6,905,963 shares of the utilities provider’s stock valued at $181,489,000 after acquiring an additional 415,667 shares during the period. Institutional investors own 63.16% 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, 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.