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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $34.8571.

Several equities research analysts have issued reports on BEP shares. BMO Capital Markets set a $36.00 price target on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a report on Wednesday, October 29th. Scotiabank reissued an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Brookfield Renewable Partners in a research note on Thursday, November 6th. UBS Group reissued a “buy” rating and issued a $39.00 price target (up previously from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th. TD Securities lifted their price objective on Brookfield Renewable Partners from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. increased their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th.

Brookfield Renewable Partners Stock Up 0.9%

BEP stock opened at $26.92 on Friday. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $32.72. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.91. The company has a market cap of $8.24 billion, a PE ratio of -31.30 and a beta of 1.11. The business’s 50-day simple moving average is $28.83 and its 200 day simple moving average is $26.86.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.22. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.61 billion. Brookfield Renewable Partners had a return on equity of 0.66% and a net margin of 3.52%. On average, research analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, November 28th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.26%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Large investors have recently made changes to their positions in the company. S&CO Inc. acquired a new stake in shares of Brookfield Renewable Partners in the second quarter valued at approximately $255,000. Royal Bank of Canada boosted its position in Brookfield Renewable Partners by 2.3% in the 1st quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider’s stock valued at $373,164,000 after buying an additional 374,087 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Brookfield Renewable Partners by 18.1% in the 1st quarter. Raymond James Financial Inc. now owns 135,895 shares of the utilities provider’s stock valued at $3,011,000 after buying an additional 20,799 shares during the period. Groupe la Francaise raised its position in shares of Brookfield Renewable Partners by 20.9% during the first quarter. Groupe la Francaise now owns 162,557 shares of the utilities provider’s stock worth $3,967,000 after acquiring an additional 28,058 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Brookfield Renewable Partners by 37.3% during the first quarter. HighTower Advisors LLC now owns 66,649 shares of the utilities provider’s stock valued at $1,477,000 after acquiring an additional 18,095 shares during the period. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.