Brookfield Renewable Partners (NYSE:BEP) Sets New 1-Year High – Still a Buy?

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) hit a new 52-week high on Friday . The company traded as high as $35.97 and last traded at $35.8110, with a volume of 610458 shares trading hands. The stock had previously closed at $35.35.

Wall Street Analyst Weigh In

BEP has been the topic of several analyst reports. TD raised their price target on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. TD Securities reiterated a “buy” rating and set a $39.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. Wall Street Zen lowered shares of Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Zacks Research downgraded shares of Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus price target of $37.21.

Brookfield Renewable Partners Stock Performance

The firm has a fifty day moving average of $33.20 and a 200-day moving average of $30.56. The firm has a market cap of $10.85 billion, a P/E ratio of -115.37 and a beta of 1.06. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. Research analysts predict that Brookfield Renewable Partners L.P. will post -1.38 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.4%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -506.45%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors have recently modified their holdings of the business. Kelleher Financial Advisors acquired a new position in shares of Brookfield Renewable Partners during the 3rd quarter worth $26,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the second quarter worth approximately $34,000. CENTRAL TRUST Co bought a new position in Brookfield Renewable Partners in the first quarter worth approximately $55,000. Root Financial Partners LLC bought a new position in Brookfield Renewable Partners in the third quarter worth approximately $46,000. Finally, Triumph Capital Management bought a new position in Brookfield Renewable Partners in the third quarter worth approximately $55,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.