Brookfield Renewable Partners (NYSE:BEP) Upgraded at Raymond James

Raymond James upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a market perform rating to an outperform rating in a report issued on Wednesday morning, Price Targets.com reports. Raymond James currently has $44.00 target price on the utilities provider’s stock, up from their previous target price of $41.00.

BEP has been the subject of a number of other reports. Tudor Pickering reiterated a buy rating and set a $44.00 price target on shares of Brookfield Renewable Partners in a research report on Thursday, August 5th. Credit Suisse Group upgraded Brookfield Renewable Partners from a neutral rating to an outperform rating and set a $45.00 price objective for the company in a research report on Monday, June 28th. Barclays lifted their price objective on Brookfield Renewable Partners from $44.00 to $47.00 and gave the stock an overweight rating in a research report on Friday, August 6th. Tudor Pickering & Holt set a $44.00 price objective on Brookfield Renewable Partners and gave the stock a buy rating in a research report on Thursday, August 5th. Finally, Zacks Investment Research upgraded Brookfield Renewable Partners from a sell rating to a hold rating in a research report on Friday, August 6th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners has an average rating of Hold and an average price target of $43.04.

NYSE BEP opened at $38.21 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.88. The firm has a market cap of $10.51 billion, a P/E ratio of -43.26 and a beta of 0.56. Brookfield Renewable Partners has a 52-week low of $30.21 and a 52-week high of $49.87. The business’s 50-day moving average price is $39.23 and its 200 day moving average price is $39.52.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Thursday, August 5th. The utilities provider reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.10). Brookfield Renewable Partners had a negative net margin of 9.25% and a negative return on equity of 1.80%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $928.42 million. During the same quarter in the previous year, the business earned $0.43 EPS. Brookfield Renewable Partners’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts anticipate that Brookfield Renewable Partners will post -0.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Tuesday, August 31st will be paid a $0.3038 dividend. The ex-dividend date of this dividend is Monday, August 30th. This represents a $1.22 annualized dividend and a yield of 3.18%. Brookfield Renewable Partners’s payout ratio is currently -200.00%.

A number of hedge funds have recently added to or reduced their stakes in BEP. JTC Employer Solutions Trusteee Ltd purchased a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at $26,000. Advisory Services Network LLC purchased a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at $44,000. Allianz Asset Management GmbH grew its stake in shares of Brookfield Renewable Partners by 99.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 139,280 shares of the utilities provider’s stock valued at $54,000 after buying an additional 69,425 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of Brookfield Renewable Partners by 19.9% during the 2nd quarter. Exchange Traded Concepts LLC now owns 2,071 shares of the utilities provider’s stock valued at $80,000 after buying an additional 344 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new stake in Brookfield Renewable Partners during the 2nd quarter worth $96,000. 54.81% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners LP engages in owning a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China.. It operates through following segments: Hydroelectric, Wind, Solar, Energy Transition, and Corporate. The Energy Transition segment distributes generation, pumped storage, cogeneration, and biomass.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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