Brookfield Renewable Partners' (BEP) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Brookfield Renewable Partners (NYSE:BEP - Free Report) TSE: BEP in a report released on Monday morning,Benzinga reports. They currently have a $31.00 price objective on the utilities provider's stock.

Several other equities analysts have also recently issued reports on the company. Scotiabank dropped their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, December 18th. StockNews.com downgraded shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Thursday, December 26th. Wells Fargo & Company lowered 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 report on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $30.60.

Brookfield Renewable Partners Stock Performance

BEP traded up $0.35 on Monday, reaching $22.63. The company had a trading volume of 431,108 shares, compared to its average volume of 1,029,246. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The stock has a market capitalization of $6.45 billion, a PE ratio of -25.40 and a beta of 0.95. The stock has a 50-day moving average price of $22.77 and a 200-day moving average price of $24.65.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its 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 firm posted $0.01 earnings per share. As a group, research analysts forecast that Brookfield Renewable Partners will post -0.76 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.373 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 6.59%. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.36. Brookfield Renewable Partners's payout ratio is presently -159.55%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several large investors have recently modified their holdings of BEP. CIBC Asset Management Inc raised its stake in Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider's stock valued at $192,605,000 after buying an additional 1,628,524 shares in the last quarter. Intact Investment Management Inc. bought a new position in shares of Brookfield Renewable Partners during the third quarter valued at approximately $42,331,000. Principal Financial Group Inc. raised its position in shares of Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider's stock worth $214,328,000 after purchasing an additional 330,648 shares during the period. Mirabella Financial Services LLP lifted its holdings in shares of Brookfield Renewable Partners by 145.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider's stock worth $13,153,000 after purchasing an additional 276,374 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Brookfield Renewable Partners during the 3rd quarter valued at approximately $6,191,000. Institutional investors own 63.16% 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, 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.