Brookfield Renewable Partners (NYSE:BEP) Sets New 52-Week Low at $19.92

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $19.92 and last traded at $20.12, with a volume of 457385 shares trading hands. The stock had previously closed at $20.51.

Analyst Ratings Changes

Several research firms have issued reports on BEP. National Bankshares upped their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.60.

Brookfield Renewable Partners Stock Performance

The stock has a 50 day simple moving average of $22.82 and a 200 day simple moving average of $23.85. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.08 billion. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -0.01 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.93%. The ex-dividend date was Wednesday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Large investors have recently modified their holdings of the business. Baystate Wealth Management LLC acquired a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at $26,000. Financial Freedom LLC acquired a new position in Brookfield Renewable Partners during the 4th quarter worth about $28,000. Scarborough Advisors LLC acquired a new position in Brookfield Renewable Partners during the 4th quarter worth about $30,000. Clear Street Markets LLC acquired a new position in Brookfield Renewable Partners during the 4th quarter worth about $34,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Brookfield Renewable Partners by 363.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,275 shares of the utilities provider’s stock worth $52,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.