Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $31.78

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.78.

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

Brookfield Renewable Partners Trading Down 1.0 %

Shares of BEP stock opened at $24.93 on Friday. The firm’s 50 day moving average price is $26.60 and its two-hundred day moving average price is $25.97. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a quick ratio of 0.52, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of -30.71 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter in the previous year, the firm earned ($0.14) EPS. On average, analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS 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. Investors of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 5.70%. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors have recently bought and sold shares of BEP. Stifel Financial Corp raised its stake in shares of Brookfield Renewable Partners by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 403 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares in the last quarter. HighTower Advisors LLC boosted its stake in Brookfield Renewable Partners by 1.6% in the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after buying an additional 749 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Brookfield Renewable Partners by 0.9% in the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock valued at $2,017,000 after buying an additional 768 shares in the last quarter. Finally, Tidal Investments LLC raised its position in Brookfield Renewable Partners by 2.5% in the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock valued at $866,000 after purchasing an additional 894 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

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.