Brookfield Renewable Partners (NYSE:BEP) Hits New 12-Month High at $48.00

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Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) reached a new 52-week high on Monday . The stock traded as high as $48.00 and last traded at $47.96, with a volume of 11636 shares changing hands. The stock had previously closed at $47.47.

Several equities analysts have recently weighed in on BEP shares. Barclays boosted their target price on Brookfield Renewable Partners from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. TD Securities downgraded Brookfield Renewable Partners from a “buy” rating to a “hold” rating and upped their price objective for the company from $43.00 to $45.00 in a research report on Tuesday, November 12th. National Bank Financial upped their price objective on Brookfield Renewable Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, September 30th. Royal Bank of Canada upped their price objective on Brookfield Renewable Partners from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets set a $39.00 price objective on Brookfield Renewable Partners and gave the company a “hold” rating in a research report on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $41.00.

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $44.13 and a 200-day moving average price of $38.23. The firm has a market cap of $8.49 billion, a P/E ratio of 367.96 and a beta of 0.52.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Monday, November 11th. The utilities provider reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.18). The company had revenue of $642.00 million for the quarter. Brookfield Renewable Partners had a return on equity of 1.72% and a net margin of 9.26%.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.06 dividend on an annualized basis and a yield of 4.31%. Brookfield Renewable Partners’s payout ratio is 1,584.62%.

A number of large investors have recently bought and sold shares of BEP. CIBC Asset Management Inc raised its position in Brookfield Renewable Partners by 54.8% in the second quarter. CIBC Asset Management Inc now owns 1,639,689 shares of the utilities provider’s stock valued at $56,719,000 after purchasing an additional 580,157 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at $15,761,000. Royal Bank of Canada grew its stake in shares of Brookfield Renewable Partners by 2.5% in the second quarter. Royal Bank of Canada now owns 8,295,423 shares of the utilities provider’s stock valued at $286,956,000 after buying an additional 204,510 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Brookfield Renewable Partners by 25.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 726,945 shares of the utilities provider’s stock valued at $29,523,000 after buying an additional 149,545 shares in the last quarter. Finally, Walnut Private Equity Partners LLC acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at $3,001,000. Institutional investors own 52.73% of the company’s stock.

About Brookfield Renewable Partners (NYSE:BEP)

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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