Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) has been assigned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $36.28.
A number of research firms recently issued reports on BEP. Zacks Investment Research upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. National Bank Financial lowered their price objective on shares of Brookfield Renewable Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 7th. Guggenheim set a $36.00 price objective on shares of Brookfield Renewable Partners and gave the stock a “buy” rating in a research report on Thursday, January 18th. Credit Suisse Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to an “outperform” rating in a research report on Tuesday, February 6th. Finally, Raymond James Financial set a $35.00 price objective on shares of Brookfield Renewable Partners and gave the stock a “market perform” rating in a research report on Monday, February 12th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in Brookfield Renewable Partners in the 4th quarter valued at approximately $209,000. Lake Street Advisors Group LLC bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter valued at $1,462,000. Lido Advisors LLC bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter valued at $349,000. Raymond James & Associates boosted its stake in shares of Brookfield Renewable Partners by 15.6% in the 4th quarter. Raymond James & Associates now owns 16,819 shares of the utilities provider’s stock valued at $586,000 after purchasing an additional 2,274 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Brookfield Renewable Partners by 1,152.2% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 277,978 shares of the utilities provider’s stock valued at $9,697,000 after purchasing an additional 255,778 shares during the last quarter. Hedge funds and other institutional investors own 54.02% of the company’s stock.
Brookfield Renewable Partners declared that its Board of Directors has initiated a stock buyback plan on Friday, December 22nd that allows the company to repurchase 9,000,000 shares. This repurchase authorization allows the utilities provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, February 28th will be given a $0.49 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend is Tuesday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is -1,633.20%.
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Brookfield Renewable Partners Company Profile
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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