Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $34.79 Consensus Target Price from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $34.7857.

A number of research analysts have issued reports on the stock. Barclays set a $28.00 target price on shares of Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the company a “neutral” rating in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce set a $35.00 price target on shares of Brookfield Renewable Partners and gave the company an “outperformer” rating in a report on Thursday, November 6th. Raymond James Financial reissued an “outperform” rating and set a $35.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 29th. Finally, TD Securities increased their price target on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BEP. Kelleher Financial Advisors bought a new position in Brookfield Renewable Partners during the 3rd quarter valued at $26,000. Russell Investments Group Ltd. purchased a new stake in Brookfield Renewable Partners during the second quarter valued at about $34,000. Root Financial Partners LLC purchased a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $46,000. Hilltop National Bank lifted its holdings in Brookfield Renewable Partners by 37.6% during the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 500 shares in the last quarter. Finally, Activest Wealth Management bought a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $50,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock opened at $31.75 on Monday. The firm has a 50 day simple moving average of $28.36 and a 200 day simple moving average of $27.55. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $32.72. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.19 and a quick ratio of 0.58. The firm has a market cap of $9.01 billion, a P/E ratio of -122.10 and a beta of 1.14.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%.The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a dividend of $0.392 per share. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.9%. Brookfield Renewable Partners’s payout ratio is currently -573.08%.

Brookfield Renewable Partners Company Profile

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.