Brookfield Renewable Partners (NYSE:BEP) Given New $31.00 Price Target at Scotiabank

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective hoisted by Scotiabank from $30.00 to $31.00 in a report issued on Monday, MarketBeat.com reports. Scotiabank currently has an outperform rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. restated a neutral rating and issued a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. Raymond James lowered their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set a strong-buy rating for the company in a research note on Thursday, April 25th. BMO Capital Markets raised their price objective on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an outperform rating in a research report on Monday. National Bankshares lifted their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an outperform rating in a research note on Tuesday, January 9th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a hold rating to a sell rating in a research note on Monday, March 4th. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $30.75.

Brookfield Renewable Partners Trading Up 3.3 %

Brookfield Renewable Partners stock opened at $26.63 on Monday. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $32.76. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average price is $22.51 and its two-hundred day moving average price is $23.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.31%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted ($0.16) EPS. Brookfield Renewable Partners’s revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that Brookfield Renewable Partners will post -0.01 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.355 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.33%. Brookfield Renewable Partners’s payout ratio is presently -219.56%.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds have recently added to or reduced their stakes in BEP. Baystate Wealth Management LLC bought a new position in Brookfield Renewable Partners in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new position in Brookfield Renewable Partners during the fourth quarter worth $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Brookfield Renewable Partners during the 1st quarter valued at $31,000. Northwest Financial Advisors bought a new stake in Brookfield Renewable Partners in the 4th quarter valued at $65,000. Finally, Principal Securities Inc. acquired a new stake in Brookfield Renewable Partners in the 4th quarter worth $77,000. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.