Brookfield Renewable Partners (NYSE:BEP) Downgraded by UBS Group to Neutral

UBS Group downgraded shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm currently has $25.00 price target on the utilities provider’s stock, down from their prior price target of $34.00.

A number of other research firms also recently issued reports on BEP. Raymond James cut their target price on shares of Brookfield Renewable Partners from $37.00 to $33.00 and set a strong-buy rating on the stock in a research report on Monday, November 6th. National Bankshares cut their price target on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an outperform rating on the stock in a research report on Monday, November 6th. TD Securities cut their price target on shares of Brookfield Renewable Partners from $38.00 to $32.00 and set an action list buy rating on the stock in a research report on Wednesday, October 18th. Scotiabank cut their price target on shares of Brookfield Renewable Partners from $38.00 to $30.00 and set an outperform rating on the stock in a research report on Wednesday, October 25th. Finally, Mizuho cut their price target on shares of Brookfield Renewable Partners from $32.00 to $27.00 in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $31.00.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $24.65 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82. Brookfield Renewable Partners has a 1 year low of $19.97 and a 1 year high of $32.76. The company has a market cap of $7.09 billion, a PE ratio of -50.30 and a beta of 0.82. The company’s 50-day moving average is $22.97 and its two-hundred day moving average is $26.83.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.338 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -275.51%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds have recently made changes to their positions in the business. Financial Freedom LLC bought a new position in shares of Brookfield Renewable Partners during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. grew its stake in shares of Brookfield Renewable Partners by 363.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,275 shares of the utilities provider’s stock valued at $52,000 after buying an additional 1,000 shares in the last quarter. Clear Street Markets LLC bought a new position in shares of Brookfield Renewable Partners in the fourth quarter valued at $34,000. Steward Partners Investment Advisory LLC grew its stake in shares of Brookfield Renewable Partners by 69.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,155 shares of the utilities provider’s stock valued at $68,000 after buying an additional 883 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of Brookfield Renewable Partners by 101.8% in the second quarter. Spire Wealth Management now owns 2,702 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,363 shares in the last quarter. 60.36% of the stock is owned by institutional investors.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.