Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $36.00 at Raymond James

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lifted by Raymond James from $31.00 to $36.00 in a research note issued to investors on Thursday, BayStreet.CA reports. They currently have a market perform rating on the utilities provider’s stock.

Several other research firms have also commented on BEP. Wells Fargo & Co reaffirmed a buy rating and set a $36.00 price target on shares of Brookfield Renewable Partners in a research report on Thursday, April 4th. Credit Suisse Group lowered shares of Brookfield Renewable Partners from an outperform rating to a neutral rating in a research report on Thursday, July 25th. Barclays began coverage on shares of Brookfield Renewable Partners in a research report on Thursday, July 11th. They set an overweight rating and a $40.00 price target for the company. Zacks Investment Research lowered shares of Brookfield Renewable Partners from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Finally, Desjardins upped their price target on shares of Brookfield Renewable Partners from $44.50 to $45.00 in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $36.71.

NYSE:BEP traded down $0.06 during mid-day trading on Thursday, reaching $35.97. The company’s stock had a trading volume of 622 shares, compared to its average volume of 156,159. Brookfield Renewable Partners has a 12-month low of $24.51 and a 12-month high of $36.51. The firm’s fifty day simple moving average is $35.36. The company has a current ratio of 0.94, a quick ratio of 0.98 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $6.45 billion, a PE ratio of 276.62 and a beta of 0.50.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.21). Brookfield Renewable Partners had a net margin of 9.16% and a return on equity of 1.80%. The business had revenue of $787.00 million for the quarter.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 30th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.52. This represents a $4.12 dividend on an annualized basis and a dividend yield of 11.45%. Brookfield Renewable Partners’s payout ratio is 1,584.62%.

Several large investors have recently made changes to their positions in BEP. BerganKDV Wealth Management LLC grew its stake in shares of Brookfield Renewable Partners by 100.0% during the 1st quarter. BerganKDV Wealth Management LLC now owns 800 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 400 shares during the period. Horan Securities Inc. bought a new position in shares of Brookfield Renewable Partners during the 1st quarter valued at approximately $35,000. Tortoise Capital Advisors L.L.C. boosted its position in shares of Brookfield Renewable Partners by 106.9% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,167 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 603 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Brookfield Renewable Partners during the 1st quarter valued at approximately $54,000. Finally, Advisor Group Inc. boosted its position in shares of Brookfield Renewable Partners by 55.0% during the 2nd quarter. Advisor Group Inc. now owns 4,168 shares of the utilities provider’s stock valued at $145,000 after acquiring an additional 1,479 shares during the last quarter. Institutional investors own 53.65% 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, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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