Brookfield Renewable Partners L.P. (NYSE:BEP) PT Raised to $35.00 at Royal Bank Of Canada

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) had its price objective increased by Royal Bank Of Canada from $32.00 to $35.00 in a research report sent to investors on Tuesday, August 8th. The firm currently has a sector perform rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. GMP Securities reaffirmed a buy rating and issued a $32.00 price target on shares of Brookfield Renewable Partners L.P. in a report on Friday, May 5th. TD Securities reaffirmed a buy rating and issued a $45.00 price target on shares of Brookfield Renewable Partners L.P. in a report on Thursday, May 4th. Zacks Investment Research raised shares of Brookfield Renewable Partners L.P. from a hold rating to a buy rating and set a $36.00 price target for the company in a report on Tuesday, July 4th. TheStreet raised shares of Brookfield Renewable Partners L.P. from a d+ rating to a c- rating in a report on Tuesday, June 27th. Finally, Barclays PLC reissued an equal weight rating and set a $32.00 target price (down from $33.00) on shares of Brookfield Renewable Partners L.P. in a research note on Sunday, April 23rd. Ten analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $36.56.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded up 1.04% during midday trading on Tuesday, hitting $34.87. 36,041 shares of the stock traded hands. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 11623.33 and a beta of 0.25. Brookfield Renewable Partners L.P. has a one year low of $26.61 and a one year high of $35.00. The firm has a 50-day moving average price of $33.34 and a 200 day moving average price of $31.27.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.05. Brookfield Renewable Partners L.P. had a net margin of 2.82% and a return on equity of 0.76%. The business had revenue of $683 million during the quarter, compared to analyst estimates of $721.75 million. Analysts anticipate that Brookfield Renewable Partners L.P. will post $0.11 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.4675 per share. This represents a $1.87 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date is Tuesday, August 29th.

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Brookfield Renewable Partners L.P. by 11.4% in the first quarter. Bank of Montreal Can now owns 4,496,989 shares of the utilities provider’s stock worth $133,696,000 after buying an additional 459,698 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of Brookfield Renewable Partners L.P. by 19.5% in the second quarter. Scotia Capital Inc. now owns 2,527,595 shares of the utilities provider’s stock worth $80,466,000 after buying an additional 412,554 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners L.P. by 6.3% in the second quarter. Principal Financial Group Inc. now owns 2,392,353 shares of the utilities provider’s stock worth $76,412,000 after buying an additional 142,656 shares in the last quarter. FMR LLC raised its stake in shares of Brookfield Renewable Partners L.P. by 5.1% in the second quarter. FMR LLC now owns 1,245,800 shares of the utilities provider’s stock worth $39,724,000 after buying an additional 60,000 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Brookfield Renewable Partners L.P. by 1.0% in the first quarter. Mackenzie Financial Corp now owns 568,787 shares of the utilities provider’s stock worth $16,910,000 after buying an additional 5,492 shares in the last quarter. 54.31% of the stock is owned by institutional investors.

About Brookfield Renewable Partners L.P.

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

Analyst Recommendations for Brookfield Renewable Partners L.P. (NYSE:BEP)

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