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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $34.8571.

Several equities research analysts have recently commented on BEP shares. Scotiabank restated an “outperform” rating and set a $35.00 price objective (up previously from $30.00) on shares of Brookfield Renewable Partners in a report on Thursday, November 6th. BMO Capital Markets set a $36.00 price target on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating and set a $35.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. Finally, Royal Bank Of Canada boosted their target price on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. S&CO Inc. bought a new stake in Brookfield Renewable Partners in the 2nd quarter worth about $255,000. Liontrust Investment Partners LLP purchased a new position in shares of Brookfield Renewable Partners in the 2nd quarter worth approximately $24,180,000. HB Wealth Management LLC bought a new position in shares of Brookfield Renewable Partners in the third quarter valued at approximately $979,000. NINE MASTS CAPITAL Ltd bought a new position in shares of Brookfield Renewable Partners in the second quarter valued at approximately $5,552,000. Finally, Blair William & Co. IL purchased a new stake in shares of Brookfield Renewable Partners during the second quarter valued at approximately $476,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 1.7%

BEP opened at $28.08 on Thursday. The company has a fifty day moving average price of $28.12 and a two-hundred day moving average price of $27.12. Brookfield Renewable Partners has a 1-year low of $19.29 and a 1-year high of $32.72. The company has a market cap of $8.59 billion, a P/E ratio of -32.65 and a beta of 1.12. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.22. Brookfield Renewable Partners had a return on equity of 0.66% and a net margin of 3.52%.The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.61 billion. Analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Renewable Partners’s payout ratio is currently -173.26%.

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.