Analysts Set Brookfield Renewable Partners L.P. (NYSE:BEP) Target Price at $34.93

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $34.9286.

Several equities analysts have commented on the stock. Canadian Imperial Bank of Commerce initiated coverage on shares of Brookfield Renewable Partners in a research report on Wednesday, March 4th. They set an “outperformer” rating and a $37.00 target price on the stock. Barclays set a $28.00 target price on Brookfield Renewable Partners and gave the company an “equal weight” rating in a report on Friday, January 23rd. Morgan Stanley reiterated an “overweight” rating and set a $38.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. Desjardins raised Brookfield Renewable Partners to a “hold” rating in a research report on Wednesday, November 26th. Finally, Mizuho set a $31.00 price objective on Brookfield Renewable Partners and gave the company a “neutral” rating in a research note on Monday, February 2nd.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently added to or reduced their stakes in BEP. S&CO Inc. purchased a new position in Brookfield Renewable Partners in the second quarter valued at about $255,000. Liontrust Investment Partners LLP purchased a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth approximately $24,180,000. HB Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $979,000. NINE MASTS CAPITAL Ltd bought a new stake in shares of Brookfield Renewable Partners in the 2nd quarter worth approximately $5,552,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Brookfield Renewable Partners by 16.2% in the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after purchasing an additional 1,414,837 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 0.0%

BEP opened at $30.28 on Friday. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $32.78. The firm has a market capitalization of $8.60 billion, a P/E ratio of -116.47 and a beta of 1.13. The company’s 50-day moving average is $29.54 and its 200 day moving average is $28.22. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57.

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

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.392 dividend. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.2%. Brookfield Renewable Partners’s payout ratio is presently -600.00%.

Brookfield Renewable Partners Company Profile

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.