Brookfield Renewable Partners (NYSE:BEP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a sell rating to a hold rating in a report released on Saturday morning.

A number of other research firms have also recently weighed in on BEP. UBS Group restated a “buy” rating and issued a $39.00 price target (up from $38.00) on shares of Brookfield Renewable Partners in a report on Friday, December 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $38.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. Canadian Imperial Bank of Commerce started coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, March 4th. They set an “outperformer” rating and a $37.00 price target on the stock. Finally, Mizuho set a $31.00 price objective on shares of Brookfield Renewable Partners and gave the company a “neutral” rating in a research report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.93.

Brookfield Renewable Partners Stock Down 0.4%

BEP stock opened at $30.13 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $29.60 and its 200 day moving average price is $28.25. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $32.78. The company has a market cap of $8.55 billion, a P/E ratio of -115.88 and a beta of 1.13.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.88. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. On average, research analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.2%. Brookfield Renewable Partners’s dividend payout ratio is -603.85%.

Institutional Trading of Brookfield Renewable Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Kelleher Financial Advisors bought a new position in Brookfield Renewable Partners during the 3rd quarter valued at $26,000. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners in the 2nd quarter worth about $34,000. Root Financial Partners LLC bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth about $46,000. Hilltop National Bank raised its stake in shares of Brookfield Renewable Partners by 37.6% in the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 500 shares in the last quarter. Finally, Triumph Capital Management acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $55,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.