Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $30.50 Average PT from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $30.50.

Several research firms have recently issued reports on BEP. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. CIBC lowered their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. National Bankshares reduced their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company lowered their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds have recently modified their holdings of BEP. Stifel Financial Corp boosted its stake in Brookfield Renewable Partners by 1.3% during the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 403 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Brookfield Renewable Partners by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 537 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Brookfield Renewable Partners by 3.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider’s stock worth $550,000 after purchasing an additional 724 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Brookfield Renewable Partners by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider’s stock valued at $597,000 after buying an additional 725 shares during the period. Finally, HighTower Advisors LLC increased its position in Brookfield Renewable Partners by 1.6% in the 3rd 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. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $23.77 on Friday. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of -26.71 and a beta of 1.02. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The business’s 50-day moving average price is $22.15 and its 200-day moving average price is $24.29. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period last year, the firm posted $0.01 earnings per share. Equities research analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.28%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.

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.