Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Consensus Rating of “Buy” from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given an average recommendation of “Buy” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $31.78.

Several equities research analysts recently issued reports on BEP shares. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. Finally, CIBC lifted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in shares of Brookfield Renewable Partners by 4.5% in 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 purchasing an additional 330,648 shares during the period. CIBC Asset Management Inc lifted its stake in Brookfield Renewable Partners by 0.6% in the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock worth $171,010,000 after acquiring an additional 37,836 shares during the last quarter. Bank of Montreal Can lifted its stake in Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after acquiring an additional 26,189 shares during the last quarter. CCLA Investment Management lifted its stake in Brookfield Renewable Partners by 1.9% in the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after acquiring an additional 47,734 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Brookfield Renewable Partners by 2.9% in 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 Price Performance

Brookfield Renewable Partners stock opened at $25.17 on Friday. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The stock has a market cap of $7.18 billion, a P/E ratio of -30.69 and a beta of 0.95. The company has a 50-day moving average price of $26.59 and a 200 day moving average price of $25.95. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Sell-side analysts anticipate that Brookfield Renewable Partners will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is -173.17%.

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.