Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $31.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective boosted by Scotiabank from $30.00 to $31.00 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. Scotiabank currently has an outperform rating on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets raised their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an outperform rating in a report on Monday. National Bankshares raised their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an outperform rating in a report on Tuesday, January 9th. Raymond James cut their price target 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. StockNews.com lowered shares of Brookfield Renewable Partners from a hold rating to a sell rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. restated a neutral rating and issued a $28.00 price target (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $30.75.

Brookfield Renewable Partners Price Performance

BEP opened at $26.89 on Monday. The company’s 50 day simple moving average is $22.67 and its 200 day simple moving average is $24.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $32.76. The stock has a market capitalization of $7.69 billion, a PE ratio of -58.46 and a beta of 0.83.

Brookfield Renewable Partners Announces Dividend

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

Institutional Trading of Brookfield Renewable Partners

Hedge funds have recently made changes to their positions in the stock. Baystate Wealth Management LLC acquired a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth approximately $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Brookfield Renewable Partners during the first quarter worth approximately $31,000. Northwest Financial Advisors acquired a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth approximately $65,000. Finally, Principal Securities Inc. acquired a new position in Brookfield Renewable Partners in the fourth quarter worth $77,000. Institutional investors and hedge funds 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.