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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $31.82.

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 12th. Raymond James dropped their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently bought and sold shares of the stock. CCLA Investment Management lifted its stake in Brookfield Renewable Partners by 1.9% during the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after buying an additional 47,734 shares in the last quarter. Triasima Portfolio Management inc. acquired a new stake in shares of Brookfield Renewable Partners during the second quarter valued at approximately $16,936,000. SFE Investment Counsel raised its holdings in shares of Brookfield Renewable Partners by 3.1% during the second quarter. SFE Investment Counsel now owns 51,927 shares of the utilities provider’s stock valued at $1,286,000 after acquiring an additional 1,580 shares during the period. Private Advisor Group LLC lifted its position in shares of Brookfield Renewable Partners by 55.8% in the 2nd quarter. Private Advisor Group LLC now owns 22,016 shares of the utilities provider’s stock valued at $545,000 after acquiring an additional 7,886 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Brookfield Renewable Partners by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after purchasing an additional 67,777 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $24.40 on Thursday. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $28.81. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of -53.04 and a beta of 0.92. The business has a 50 day simple moving average of $25.11 and a 200 day simple moving average of $24.49.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.41). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) EPS. On average, equities research analysts anticipate that Brookfield Renewable Partners will post -0.49 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.82%. The ex-dividend date is Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is -308.70%.

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.