Brookfield Renewable Partners (NYSE:BEP) Upgraded by Wall Street Zen to Hold Rating

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 also recently issued reports on BEP. National Bank Financial increased their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, December 29th. Morgan Stanley reiterated an “overweight” rating and set a $38.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th. Mizuho set a $31.00 price objective on shares of Brookfield Renewable Partners and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Finally, Barclays set a $28.00 target price on shares of Brookfield Renewable Partners and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.93.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $30.28 on Friday. The business’s fifty day moving average price is $29.54 and its 200 day moving average price is $28.19. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $32.78. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $8.60 billion, a P/E ratio of -116.47 and a beta of 1.13.

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

Brookfield Renewable Partners Increases Dividend

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

Institutional Trading of Brookfield Renewable Partners

Large investors have recently bought and sold shares of the company. BROOKFIELD Corp ON raised its stake in shares of Brookfield Renewable Partners by 9.4% during the fourth quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after purchasing an additional 6,967,670 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Brookfield Renewable Partners by 128.0% in the fourth quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock valued at $131,265,000 after purchasing an additional 2,732,542 shares during the period. Bank of Montreal Can grew its holdings in Brookfield Renewable Partners by 20.3% during the 4th quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock valued at $226,859,000 after purchasing an additional 1,415,989 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Brookfield Renewable Partners by 16.2% during the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock valued at $261,189,000 after purchasing an additional 1,414,837 shares in the last quarter. Finally, Morgan Stanley increased its stake in Brookfield Renewable Partners by 41.9% during the 4th quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock worth $108,663,000 after buying an additional 1,189,130 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.