Brookfield Renewable Partners L.P. (NYSE:BEP) Given Average Rating of “Buy” by Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been given an average rating of “Buy” by the nine research firms that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $30.50.

BEP has been the topic of a number of research reports. National Bankshares decreased their price objective on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Scotiabank upped their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, CIBC decreased their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd.

Institutional Trading of Brookfield Renewable Partners

Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners in the third quarter valued at about $28,000. Promus Capital LLC bought a new position in Brookfield Renewable Partners in the fourth quarter valued at about $37,000. Jones Financial Companies Lllp grew its position in Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 537 shares during the last quarter. Allworth Financial LP bought a new position in Brookfield Renewable Partners in the fourth quarter valued at about $68,000. Finally, Steward Partners Investment Advisory LLC grew its position in Brookfield Renewable Partners by 81.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 1,391 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 0.5 %

BEP opened at $23.47 on Monday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The stock’s fifty day simple moving average is $22.26 and its 200 day simple moving average is $24.52. 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 stock has a market cap of $6.69 billion, a PE ratio of -26.37 and a beta of 0.95.

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

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 6.36%. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is -159.55%.

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.