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

Brookfield Renewable Partners L.P. (NYSE:BEPGet Rating) (TSE:BEP) has received an average recommendation of “Buy” from the twenty brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.67.

BEP has been the topic of several research reports. Wells Fargo & Company reduced their price objective on Brookfield Renewable Partners from $46.00 to $40.00 in a report on Thursday, February 10th. BMO Capital Markets boosted their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, April 1st. TD Securities upgraded Brookfield Renewable Partners from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Monday, May 9th. UBS Group began coverage on Brookfield Renewable Partners in a report on Monday, March 28th. They set a “buy” rating and a $46.00 price objective for the company. Finally, National Bankshares upped their target price on shares of Brookfield Renewable Partners from $31.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, May 9th.

Shares of NYSE BEP opened at $36.13 on Tuesday. Brookfield Renewable Partners has a 12-month low of $30.93 and a 12-month high of $41.95. The firm’s 50-day simple moving average is $37.58 and its 200 day simple moving average is $36.06. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.83. The company has a market cap of $9.94 billion, a price-to-earnings ratio of -58.27 and a beta of 0.73.

Brookfield Renewable Partners (NYSE:BEPGet Rating) (TSE:BEP) last announced its earnings results on Monday, May 9th. The utilities provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.70% and a negative net margin of 3.59%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted ($0.24) earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Brookfield Renewable Partners will post -0.18 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Tuesday, May 31st will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, May 27th. Brookfield Renewable Partners’s dividend payout ratio is currently -206.45%.

Several institutional investors have recently made changes to their positions in BEP. First Trust Advisors LP increased its position in shares of Brookfield Renewable Partners by 4.6% during the first quarter. First Trust Advisors LP now owns 134,218 shares of the utilities provider’s stock worth $4,288,000 after acquiring an additional 5,910 shares in the last quarter. Morgan Stanley boosted its stake in Brookfield Renewable Partners by 44.1% in the 2nd quarter. Morgan Stanley now owns 583,684 shares of the utilities provider’s stock worth $22,513,000 after purchasing an additional 178,751 shares during the period. Bank of Nova Scotia increased its holdings in Brookfield Renewable Partners by 24.5% during the 3rd quarter. Bank of Nova Scotia now owns 272,751 shares of the utilities provider’s stock worth $10,093,000 after purchasing an additional 53,602 shares in the last quarter. Kings Point Capital Management raised its stake in shares of Brookfield Renewable Partners by 275.0% in the 3rd quarter. Kings Point Capital Management now owns 3,750 shares of the utilities provider’s stock valued at $138,000 after purchasing an additional 2,750 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Brookfield Renewable Partners by 20.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 244,688 shares of the utilities provider’s stock valued at $9,030,000 after purchasing an additional 41,831 shares during the period. Institutional investors own 55.98% of the company’s stock.

About Brookfield Renewable Partners (Get Rating)

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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