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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been given an average rating of “Moderate Buy” by the sixteen analysts that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $34.7857.

A number of research analysts have commented on BEP shares. JPMorgan Chase & Co. increased their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Barclays set a $28.00 target price on shares of Brookfield Renewable Partners and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Royal Bank Of Canada boosted their price target on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Desjardins upgraded shares of Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Finally, Canadian Imperial Bank of Commerce set a $35.00 target price on shares of Brookfield Renewable Partners and gave the stock an “outperformer” rating in a report on Thursday, November 6th.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. S&CO Inc. bought a new stake in Brookfield Renewable Partners during the second quarter worth about $255,000. Liontrust Investment Partners LLP acquired a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at approximately $24,180,000. HB Wealth Management LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $979,000. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth approximately $5,552,000. Finally, Principal Financial Group Inc. increased its stake in Brookfield Renewable Partners by 16.2% in the third quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock valued at $261,189,000 after acquiring an additional 1,414,837 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Trading Up 3.1%

Shares of BEP stock opened at $30.45 on Monday. The company has a market capitalization of $8.64 billion, a P/E ratio of -117.10 and a beta of 1.14. Brookfield Renewable Partners has a 12-month low of $19.29 and a 12-month high of $32.72. The company has a quick ratio of 0.58, a current ratio of 0.19 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $28.06 and a 200 day moving average price of $27.42.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%.The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. Research analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, February 27th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s payout ratio is -600.00%.

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.