Brookfield Renewable Partners L.P. (NYSE:BEP) Lowered to Sector Perform at National Bank Financial

National Bank Financial cut shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) from an outperform rating to a sector perform rating in a research report sent to investors on Tuesday, August 8th. National Bank Financial currently has $35.00 price target on the utilities provider’s stock.

A number of other brokerages have also weighed in on BEP. TD Securities upped their price target on shares of Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the stock a buy rating in a research note on Tuesday, August 8th. Barclays PLC set a $36.00 price target on shares of Brookfield Renewable Partners L.P. and gave the stock a hold rating in a research note on Sunday, August 6th. BidaskClub raised shares of Brookfield Renewable Partners L.P. from a buy rating to a strong-buy rating in a research note on Tuesday, June 20th. Macquarie lowered shares of Brookfield Renewable Partners L.P. from an outperform rating to a neutral rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research lowered shares of Brookfield Renewable Partners L.P. from a buy rating to a hold rating in a research note on Friday, July 14th. Ten investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $36.56.

Shares of Brookfield Renewable Partners L.P. (BEP) traded up 1.04% on Tuesday, reaching $34.87. 36,041 shares of the company’s stock were exchanged. Brookfield Renewable Partners L.P. has a 1-year low of $26.61 and a 1-year high of $35.00. The stock’s 50-day moving average price is $33.34 and its 200-day moving average price is $31.27. The company has a market capitalization of $10.34 billion, a P/E ratio of 11623.33 and a beta of 0.25.

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

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in 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 valued at $133,696,000 after buying an additional 459,698 shares in the last quarter. Principal Financial Group Inc. raised its stake in Brookfield Renewable Partners L.P. by 5.6% in the first quarter. Principal Financial Group Inc. now owns 2,249,697 shares of the utilities provider’s stock valued at $66,883,000 after buying an additional 119,318 shares in the last quarter. Hexavest Inc. raised its stake in Brookfield Renewable Partners L.P. by 1.1% in the second quarter. Hexavest Inc. now owns 338,455 shares of the utilities provider’s stock valued at $10,776,000 after buying an additional 3,715 shares in the last quarter. Mackenzie Financial Corp raised its stake in 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 valued at $16,910,000 after buying an additional 5,492 shares in the last quarter. Finally, Greystone Investment Management LLC raised its stake in Brookfield Renewable Partners L.P. by 7.9% in the second quarter. Greystone Investment Management LLC now owns 41,190 shares of the utilities provider’s stock valued at $1,314,000 after buying an additional 3,000 shares in the last quarter. 54.31% of the stock is owned by institutional investors and hedge funds.

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.

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