Brookfield Renewable Partners (NYSE:BEP) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target reduced by JPMorgan Chase & Co. from $36.00 to $32.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

A number of other research firms also recently weighed in on BEP. Barclays set a $30.00 target price on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Zacks Research raised Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Morgan Stanley decreased their price target on Brookfield Renewable Partners from $42.00 to $37.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, September 21st. Finally, BMO Capital Markets set a $41.00 price target on Brookfield Renewable Partners in a research note on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus target price of $37.14.

Brookfield Renewable Partners Stock Up 3.4%

Shares of BEP stock opened at $29.18 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87. The stock has a 50 day simple moving average of $30.35 and a 200 day simple moving average of $32.82. Brookfield Renewable Partners has a 1 year low of $26.30 and a 1 year high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.56 billion. Equities analysts expect that Brookfield Renewable Partners will post -1.87 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a $0.3920 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -341.30%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. CENTRAL TRUST Co acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $55,000. GAMMA Investing LLC increased its stake in shares of Brookfield Renewable Partners by 44.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,460 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 757 shares during the last quarter. First Bancorp Inc ME acquired a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth $71,000. Integrated Wealth Concepts LLC acquired a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth $82,000. Finally, Wellington Altus USA Inc. raised its holdings in shares of Brookfield Renewable Partners by 600.0% during the 2nd quarter. Wellington Altus USA Inc. now owns 3,500 shares of the utilities provider’s stock worth $114,000 after buying an additional 3,000 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a global renewable power and sustainable solutions company. The partnership develops, owns and operates a diversified portfolio of renewable energy facilities, with hydroelectric generation complemented by onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy transition assets.

Through its operating platforms, Brookfield Renewable supplies electricity and related energy services to utilities, corporations and other customers.