Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $32.30 Consensus Price Target from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have earned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $31.78.

Several equities research analysts have weighed in on the stock. National Bankshares raised their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. CIBC upped their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $31.00 in a research report on Monday, September 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arkadios Wealth Advisors acquired a new stake in Brookfield Renewable Partners in the third quarter worth $272,000. International Assets Investment Management LLC acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth $4,880,000. Private Advisor Group LLC lifted its holdings in Brookfield Renewable Partners by 47.8% during the third quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 10,521 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Brookfield Renewable Partners in the third quarter valued at about $6,191,000. Finally, Aspiriant LLC acquired a new position in Brookfield Renewable Partners in the third quarter valued at about $241,000. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

NYSE:BEP opened at $27.77 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The firm has a market cap of $7.91 billion, a PE ratio of -60.35 and a beta of 0.94. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The company’s 50-day moving average price is $26.06 and its two-hundred day moving average price is $25.38.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted ($0.10) EPS. The business’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.11%. The ex-dividend date was Friday, August 30th. Brookfield Renewable Partners’s payout ratio is -308.70%.

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.