Brookfield Renewable Partners L.P. (NYSE:BEP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $32.50.

BEP has been the subject of several research reports. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $24.00 to $31.00 in a research note on Monday. Finally, National Bankshares lifted their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $28.25 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52. The company’s fifty day moving average price is $25.13 and its 200-day moving average price is $24.91. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $28.81. The firm has a market capitalization of $8.05 billion, a PE ratio of -61.41 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.41). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share. On average, equities research analysts predict that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.355 per share. The ex-dividend date was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.03%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -308.70%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FIL Ltd grew its position in shares of Brookfield Renewable Partners by 37.1% in the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after purchasing an additional 3,474,522 shares during the period. CIBC Asset Management Inc boosted its holdings in Brookfield Renewable Partners by 63.2% in the 4th quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock worth $162,917,000 after buying an additional 2,394,853 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $16,936,000. Liontrust Investment Partners LLP acquired a new position in shares of Brookfield Renewable Partners during the second quarter valued at approximately $14,862,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Brookfield Renewable Partners by 103.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock valued at $27,214,000 after acquiring an additional 595,335 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.