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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $32.44.

A number of equities research analysts have commented on BEP shares. National Bankshares reduced their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price for the company in a research report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, CIBC lifted their target price on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors have recently made changes to their positions in the stock. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $42,331,000. MAI Capital Management boosted its holdings in Brookfield Renewable Partners by 294.2% in the third quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock worth $2,443,000 after acquiring an additional 64,695 shares in the last quarter. Mirabella Financial Services LLP grew 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 acquiring an additional 276,374 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Brookfield Renewable Partners by 4.5% during the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after acquiring an additional 330,648 shares in the last quarter. Finally, TD Asset Management Inc raised its position 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 purchasing an additional 67,777 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Down 4.1 %

NYSE:BEP opened at $22.64 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56. The firm’s 50 day simple moving average is $24.46 and its 200 day simple moving average is $25.23. The company has a market cap of $6.45 billion, a PE ratio of -27.61 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter last year, the firm posted ($0.14) EPS. On average, research analysts anticipate that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable Partners’s payout ratio is -173.17%.

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.