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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have received an average rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $32.44.

Several research firms recently commented on BEP. JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Thursday, December 12th. National Bankshares decreased their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $31.00 in a research report on Monday, September 30th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. Finally, CIBC raised their target price on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday.

Brookfield Renewable Partners Stock Down 0.0 %

Shares of NYSE BEP opened at $22.62 on Friday. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The stock has a market capitalization of $6.45 billion, a PE ratio of -27.59 and a beta of 0.95. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average of $24.41 and a 200-day moving average of $25.20.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter last year, the business earned ($0.14) earnings per share. On average, analysts anticipate that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a $0.355 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 6.28%. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. bought a new position in shares of Brookfield Renewable Partners during the third quarter worth about $42,331,000. Triasima Portfolio Management inc. acquired a new stake in Brookfield Renewable Partners during the second quarter valued at approximately $16,936,000. Principal Financial Group Inc. lifted its holdings in Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after buying an additional 330,648 shares during the last quarter. Mirabella Financial Services LLP lifted its holdings in Brookfield Renewable Partners by 145.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after buying an additional 276,374 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at approximately $6,191,000. 63.16% of the stock is owned by institutional investors and hedge funds.

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.