Brookfield Renewable Partners (NYSE:BEP) Price Target Cut to $32.00 by Analysts at National Bankshares

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target trimmed by National Bankshares from $33.00 to $32.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an outperform rating on the utilities provider’s stock.

A number of other research analysts also recently weighed in on BEP. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $31.00 in a report on Monday, September 30th. JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Thursday, December 12th. CIBC increased their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, StockNews.com raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $31.78.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $22.64 on Wednesday. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50 day simple moving average is $25.75 and its two-hundred day simple moving average is $25.57. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -27.61 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same period last year, the company posted ($0.14) earnings per share. As a group, analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 6.27%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BEP. GAMMA Investing LLC boosted its stake in shares of Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. Waverton Investment Management Ltd purchased a new position in shares of Brookfield Renewable Partners during the third quarter worth approximately $178,000. Barclays PLC raised its stake in shares of Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 2,036 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Brookfield Renewable Partners in the third quarter valued at approximately $206,000. 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.