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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.17.

Several brokerages have commented on BEP. BMO Capital Markets raised their price objective on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. TD Securities raised their target price on Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Royal Bank of Canada increased their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, National Bankshares lifted their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $25.15 on Wednesday. The business has a 50 day moving average of $25.20 and a 200 day moving average of $24.82. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $30.32. The company has a market cap of $7.17 billion, a PE ratio of -54.67 and a beta of 0.94. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.88.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.24). Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The company had revenue of $875.00 million during the quarter, compared to the consensus estimate of $828.39 million. As a group, equities research analysts forecast that Brookfield Renewable Partners will post -0.49 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -308.69%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several large investors have recently modified their holdings of BEP. Pathstone Family Office LLC purchased a new position in shares of Brookfield Renewable Partners during the third quarter valued at $282,000. HighTower Advisors LLC raised its holdings in Brookfield Renewable Partners by 3.8% in the 3rd quarter. HighTower Advisors LLC now owns 58,512 shares of the utilities provider’s stock worth $1,271,000 after purchasing an additional 2,165 shares during the period. Invesco Ltd. increased its holdings in Brookfield Renewable Partners by 36.0% in the 3rd quarter. Invesco Ltd. now owns 1,851,866 shares of the utilities provider’s stock worth $40,260,000 after acquiring an additional 489,704 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Brookfield Renewable Partners by 14.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 245,613 shares of the utilities provider’s stock valued at $5,340,000 after buying an additional 30,276 shares in the last quarter. Finally, Tacita Capital Inc raised its stake in Brookfield Renewable Partners by 22.7% in the 3rd quarter. Tacita Capital Inc now owns 108,011 shares of the utilities provider’s stock valued at $2,354,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

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.