Brookfield Renewable Partners (NYSE:BEP) Price Target Cut to $28.00 by Analysts at JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target cut by JPMorgan Chase & Co. from $30.00 to $28.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities research analysts have also issued reports about the company. CIBC raised their price objective on Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. National Bankshares decreased their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Price Performance

NYSE:BEP opened at $20.78 on Thursday. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a market cap of $5.93 billion, a P/E ratio of -25.34 and a beta of 0.95. The business’s 50-day moving average price is $23.61 and its 200 day moving average price is $24.96.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.355 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 6.83%. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently modified their holdings of BEP. Stifel Financial Corp raised its holdings in shares of Brookfield Renewable Partners by 1.3% during the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 403 shares in the last quarter. GAMMA Investing LLC increased its holdings in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after buying an additional 442 shares during the last quarter. HighTower Advisors LLC lifted its stake in Brookfield Renewable Partners by 1.6% in the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after acquiring an additional 749 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 945 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.