National Bank Financial Analysts Give Brookfield Renewable Partners (NYSE:BEP) a $38.00 Price Target

National Bank Financial set a $38.00 target price on Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research note released on Thursday morning,BayStreet reports. The firm currently has an outperform rating on the utilities provider’s stock.

Other research analysts have also issued reports about the company. BMO Capital Markets set a $41.00 price objective on Brookfield Renewable Partners in a research report on Monday, August 17th. Zacks Research upgraded Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Barclays set a $30.00 target price on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $41.00 target price on shares of Brookfield Renewable Partners in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $36.00 price target on shares of Brookfield Renewable Partners in a research note on Tuesday, July 21st. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.79.

Brookfield Renewable Partners Trading Down 0.3%

BEP opened at $28.34 on Thursday. Brookfield Renewable Partners has a twelve month low of $26.29 and a twelve month high of $38.12. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average of $31.43 and a 200-day moving average of $33.08. The stock has a market cap of $8.50 billion, a PE ratio of -61.60 and a beta of 1.10.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.56 billion. Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. On average, sell-side analysts predict that Brookfield Renewable Partners will post -1.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were given a dividend of $0.3920 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio is -341.30%.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tacita Capital Inc boosted its stake in shares of Brookfield Renewable Partners by 0.7% in the 4th quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock valued at $3,220,000 after purchasing an additional 770 shares in the last quarter. Sanctuary Advisors LLC raised its position in Brookfield Renewable Partners by 2.3% in the 1st quarter. Sanctuary Advisors LLC now owns 65,217 shares of the utilities provider’s stock worth $2,129,000 after purchasing an additional 1,494 shares during the period. Cardinal Point Capital Management ULC raised its position in Brookfield Renewable Partners by 5.9% in the 1st quarter. Cardinal Point Capital Management ULC now owns 27,071 shares of the utilities provider’s stock worth $881,000 after purchasing an additional 1,500 shares during the period. Global Retirement Partners LLC lifted its stake in Brookfield Renewable Partners by 284.5% in the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 1,633 shares during the last quarter. Finally, CENTRAL TRUST Co bought a new stake in Brookfield Renewable Partners in the first quarter worth $55,000. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a renewable power and energy transition company that owns and operates a diversified portfolio of clean energy assets. Its main activities include generating electricity from hydroelectric, wind and solar facilities, as well as providing energy storage and other decarbonization solutions.

The company serves electricity markets and commercial, industrial and utility customers across North America, South America, Europe and the Asia-Pacific region. In addition to operating renewable power facilities, Brookfield Renewable develops new projects and invests in businesses supporting the transition to lower-carbon energy, including distributed energy and sustainable solutions.

Brookfield Renewable traces its origins to Brookfield Asset Management’s renewable power operations and became publicly listed as Brookfield Renewable Energy Partners in 2011.