Brookfield Renewable Partners (NYSE:BEP) Coverage Initiated at Barclays

Barclays began coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage issued an equal weight rating on the utilities provider’s stock.

A number of other equities analysts have also issued reports on BEP. Wells Fargo & Company reduced their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. CIBC lowered their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. National Bankshares cut their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Trading Up 0.6 %

Shares of BEP opened at $22.64 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The company has a market cap of $6.45 billion, a price-to-earnings ratio of -25.44 and a beta of 1.02. The stock has a fifty day moving average price of $22.44 and a two-hundred day moving average price of $24.16. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the previous year, the business earned $0.01 earnings per share. Analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a $0.373 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.59%. Brookfield Renewable Partners’s dividend payout ratio is -167.42%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BEP. BNP Paribas Financial Markets raised its holdings in Brookfield Renewable Partners by 609.2% in the third quarter. BNP Paribas Financial Markets now owns 11,808 shares of the utilities provider’s stock worth $333,000 after purchasing an additional 10,143 shares during the period. HighTower Advisors LLC raised its stake in Brookfield Renewable Partners by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after buying an additional 749 shares during the period. Stifel Financial Corp lifted its holdings in 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. National Bank of Canada FI grew its stake in Brookfield Renewable Partners by 2.6% in the third quarter. National Bank of Canada FI now owns 1,040,674 shares of the utilities provider’s stock valued at $29,326,000 after acquiring an additional 25,916 shares during the period. Finally, Barclays PLC increased its holdings in shares of Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 2,036 shares in the last quarter. Institutional investors 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.