Zacks Investment Research upgraded shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) from a hold rating to a buy rating in a report published on Thursday morning. The brokerage currently has $38.00 target price on the utilities provider’s stock.

According to Zacks, “Brookfield Renewable Energy Partners L.P. owns and operates renewable power platform. The company’s power generating portfolio comprised of hydroelectric generating, wind facilities and natural gas-fired plants. It operates in the United States, Canada and Brazil. The company sells its generation output to public power authorities, load-serving utilities and industrial users. Brookfield Renewable Energy Partners L.P., is based in Hamilton, Bermuda. “

Several other equities research analysts have also commented on the stock. Raymond James Financial, Inc. dropped their price target on shares of Brookfield Renewable Partners L.P. to $42.00 and set a market perform rating on the stock in a research note on Thursday, August 17th. Brookfield Renewable Partners LP lowered their price objective on shares of Brookfield Renewable Partners L.P. to $42.00 and set a market perform rating on the stock in a research note on Thursday, August 17th. Royal Bank Of Canada raised their price objective on shares of Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the company a sector perform rating in a research note on Tuesday, August 8th. National Bank Financial lowered shares of Brookfield Renewable Partners L.P. from an outperform rating to a sector perform rating and set a $35.00 price objective on the stock. in a research note on Tuesday, August 8th. Finally, TD Securities raised their price objective on shares of Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the company a buy rating in a research note on Tuesday, August 8th. Ten research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $36.78.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) opened at 33.53 on Thursday. The firm’s 50-day moving average is $34.26 and its 200 day moving average is $32.47. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 11176.67 and a beta of 0.23. Brookfield Renewable Partners L.P. has a 52-week low of $26.61 and a 52-week high of $36.00.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. Brookfield Renewable Partners L.P. had a net margin of 3.66% and a return on equity of 0.76%. The company had revenue of $683.00 million for the quarter, compared to analyst estimates of $721.75 million. On average, equities research analysts anticipate that Brookfield Renewable Partners L.P. will post $0.08 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Thursday, August 31st were issued a dividend of $0.4675 per share. This represents a $1.87 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date was Tuesday, August 29th. Brookfield Renewable Partners L.P.’s payout ratio is -1,869.81%.

A number of institutional investors have recently bought and sold shares of BEP. FMR LLC boosted its stake in Brookfield Renewable Partners L.P. by 2.9% in the 1st quarter. FMR LLC now owns 1,185,800 shares of the utilities provider’s stock worth $35,132,000 after purchasing an additional 33,000 shares during the period. Global X Management Co. LLC boosted its stake in Brookfield Renewable Partners L.P. by 1,008.4% in the 1st quarter. Global X Management Co. LLC now owns 287,740 shares of the utilities provider’s stock worth $8,555,000 after purchasing an additional 261,780 shares during the period. Mackenzie Financial Corp boosted its stake in Brookfield Renewable Partners L.P. by 1.0% in the 1st quarter. Mackenzie Financial Corp now owns 568,787 shares of the utilities provider’s stock worth $16,910,000 after purchasing an additional 5,492 shares during the period. Renaissance Technologies LLC boosted its stake in Brookfield Renewable Partners L.P. by 353.8% in the 1st quarter. Renaissance Technologies LLC now owns 255,953 shares of the utilities provider’s stock worth $7,598,000 after purchasing an additional 199,554 shares during the period. Finally, Jane Street Group LLC acquired a new position in Brookfield Renewable Partners L.P. in the 1st quarter worth approximately $454,000. 58.34% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Renewable Partners L.P.

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

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