Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $32.00 at CIBC

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective trimmed by CIBC from $34.00 to $32.00 in a research note released on Wednesday morning, Marketbeat.com reports. The firm currently has an outperformer rating on the utilities provider’s stock.

Several other research analysts have also weighed in on BEP. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. National Bankshares dropped their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.56.

Brookfield Renewable Partners Stock Down 4.1 %

BEP stock opened at $22.64 on Wednesday. The stock has a market capitalization of $6.45 billion, a PE ratio of -27.61 and a beta of 0.95. The company has a fifty day moving average of $24.52 and a 200-day moving average of $25.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56.

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 analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter in the previous year, the business earned ($0.14) EPS. As a group, analysts expect that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company 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. The ex-dividend date was Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 6.27%. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after purchasing an additional 330,648 shares during the period. Bank of Montreal Can lifted its position in Brookfield Renewable Partners by 0.4% during the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after buying an additional 26,189 shares during the period. CCLA Investment Management boosted its stake in Brookfield Renewable Partners by 1.9% in the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after buying an additional 47,734 shares during the last quarter. APG Asset Management N.V. grew its holdings in Brookfield Renewable Partners by 0.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock valued at $40,327,000 after buying an additional 5,388 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of Brookfield Renewable Partners by 11.1% during the 3rd quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock valued at $48,905,000 after acquiring an additional 173,882 shares during the last quarter. 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.