Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $30.50.

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $28.00 price target (down from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. Raymond James reduced their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. National Bankshares upped their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Finally, StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Monday, March 4th.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $21.38 on Tuesday. The company has a 50 day simple moving average of $22.41 and a two-hundred day simple moving average of $23.86. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $32.76. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -66.81 and a beta of 0.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned ($0.16) EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts expect that Brookfield Renewable Partners will post -0.01 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a dividend of $0.355 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, February 28th. This represents a $1.42 dividend on an annualized basis and a yield of 6.64%. Brookfield Renewable Partners’s dividend payout ratio is -421.88%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its holdings in shares of Brookfield Renewable Partners by 8.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock valued at $248,000 after buying an additional 750 shares during the period. PNC Financial Services Group Inc. increased its position in Brookfield Renewable Partners by 17.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 900 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in Brookfield Renewable Partners by 8.5% in the third quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider’s stock valued at $269,000 after acquiring an additional 967 shares during the period. Baystate Wealth Management LLC purchased a new position in Brookfield Renewable Partners in the fourth quarter worth about $26,000. Finally, SFE Investment Counsel boosted its position in Brookfield Renewable Partners by 2.1% in the fourth quarter. SFE Investment Counsel now owns 48,281 shares of the utilities provider’s stock worth $1,269,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

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.