Brookfield Renewable Energy Partners (TSE:BEP) Upgraded to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Brookfield Renewable Energy Partners (TSE:BEP) from a hold rating to a strong-buy rating in a report released on Monday morning, MarketBeat.com reports. UBS Group currently has C$31.00 target price on the stock, up from their previous target price of C$24.00.

Brookfield Renewable Energy Partners Stock Performance

Brookfield Renewable Energy Partners (TSE:BEP) last posted its quarterly earnings results on Friday, August 2nd. The company reported C($0.38) EPS for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.56). The company had revenue of C$1.14 billion for the quarter, compared to the consensus estimate of C$1.25 billion.

Brookfield Renewable Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.486 dividend. This is an increase from Brookfield Renewable Energy Partners’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.94 annualized dividend and a dividend yield of ∞.

About Brookfield Renewable Energy Partners

Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 20,000 megawatts of installed capacity and an approximately 23,000 megawatt development pipeline.