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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have received an average rating of “Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.78.

Several research firms recently commented on BEP. 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. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $31.00 in a research report on Monday, September 30th. JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a research report on Thursday, December 12th. National Bankshares reduced their price target on shares of 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEP. Intact Investment Management Inc. bought a new stake in shares of Brookfield Renewable Partners during the third quarter worth $42,331,000. Triasima Portfolio Management inc. acquired a new position in Brookfield Renewable Partners during the 2nd quarter worth about $16,936,000. Principal Financial Group Inc. grew its holdings in Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after acquiring an additional 330,648 shares during the last quarter. Mirabella Financial Services LLP increased its position in Brookfield Renewable Partners by 145.2% in the 3rd 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 in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Brookfield Renewable Partners in the third quarter worth about $6,191,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Up 0.4 %

Shares of BEP opened at $23.20 on Friday. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The firm has a market capitalization of $6.61 billion, a P/E ratio of -28.29 and a beta of 0.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $24.70 and its 200 day simple moving average is $25.28.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm 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 in the prior year, the company earned ($0.14) earnings per share. On average, equities research analysts forecast that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.355 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 6.12%. Brookfield Renewable Partners’s dividend payout ratio is currently -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.