Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $30.00.

BEP has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Scotiabank raised their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 18th. Mizuho raised their price target on Brookfield Renewable Partners from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, September 26th. National Bankshares raised their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Raymond James Financial lowered Brookfield Renewable Partners from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th.

Brookfield Renewable Partners Trading Up 5.7%

Brookfield Renewable Partners stock opened at $27.78 on Tuesday. The stock has a market cap of $7.88 billion, a PE ratio of -29.24 and a beta of 1.13. The stock has a 50-day moving average price of $25.58 and a 200 day moving average price of $24.74. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $29.56. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. Equities research analysts predict that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -156.84%.

Institutional Trading of Brookfield Renewable Partners

Hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its stake in Brookfield Renewable Partners by 103.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock worth $25,000 after buying an additional 579 shares during the last quarter. Hilltop National Bank acquired a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at about $34,000. Russell Investments Group Ltd. acquired a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at about $34,000. Rossby Financial LCC acquired a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at about $41,000. Finally, NBC Securities Inc. acquired a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at about $42,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

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.