Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) PT at $30.50

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $30.50.

Several research firms have issued reports on BEP. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company dropped their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, National Bankshares reduced their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th.

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP opened at $22.40 on Friday. The company has a market cap of $6.38 billion, a P/E ratio of -25.16 and a beta of 1.02. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56. The business’s 50-day simple moving average is $22.28 and its 200 day simple moving average is $24.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter last year, the business posted $0.01 earnings per share. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.373 dividend. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 6.66%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -167.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirabella Financial Services LLP lifted its stake in Brookfield Renewable Partners by 145.2% in the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after buying an additional 276,374 shares during the last quarter. Bank of Montreal Can lifted its position in Brookfield Renewable Partners by 0.4% in the 3rd quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after purchasing an additional 26,189 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Brookfield Renewable Partners by 609.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,808 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 10,143 shares during the period. Cadence Bank bought a new position in Brookfield Renewable Partners in the 3rd quarter worth about $212,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Brookfield Renewable Partners by 8.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 328,066 shares of the utilities provider’s stock valued at $9,245,000 after purchasing an additional 24,467 shares during the period. 63.16% of the stock is currently 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, 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.