Analysts Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $31.90

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $32.50.

A number of research firms have weighed in on BEP. Scotiabank boosted their price objective on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 12th. National Bankshares lifted their price target on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. 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 report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, August 5th.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of BEP. Bank of Nova Scotia lifted its holdings in shares of Brookfield Renewable Partners by 10.7% during the 4th quarter. Bank of Nova Scotia now owns 704,744 shares of the utilities provider’s stock valued at $18,515,000 after purchasing an additional 67,964 shares during the last quarter. FIL Ltd increased its position in Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after buying an additional 3,474,522 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 buying an additional 595,335 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Brookfield Renewable Partners by 2,229.4% in the first quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 24,412 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Brookfield Renewable Partners by 2.9% during the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after acquiring an additional 67,777 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Up 0.2 %

BEP opened at $28.25 on Friday. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $28.81. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average of $25.13 and a 200 day moving average of $24.91. The firm has a market cap of $8.05 billion, a P/E ratio of -61.41 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm posted ($0.10) EPS. Brookfield Renewable Partners’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

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

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.