Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.78 Consensus PT from Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have received a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $31.89.

Several research firms have recently weighed in on BEP. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. StockNews.com upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. CIBC lifted their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Thursday.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $28,000. Waverton Investment Management Ltd bought a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $178,000. Barclays PLC increased its holdings in Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 2,036 shares during the period. Finally, Creative Planning bought a new position in Brookfield Renewable Partners during the 3rd quarter valued at approximately $206,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $23.79 on Wednesday. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of -29.01 and a beta of 0.93. The stock has a 50 day moving average of $26.00 and a 200 day moving average of $25.70. 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 earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. As a group, sell-side analysts forecast that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.97%. The ex-dividend date is Friday, November 29th. 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.