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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $35.2143.

Several brokerages have recently weighed in on BEP. Morgan Stanley lifted their price target on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Barclays set a $28.00 target price on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Friday, January 23rd. UBS Group reiterated a “buy” rating and set a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th. Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the company a “neutral” rating in a report on Monday, February 2nd. Finally, Canadian Imperial Bank of Commerce assumed coverage on Brookfield Renewable Partners in a research report on Wednesday, March 4th. They issued an “outperformer” rating and a $37.00 price target for the company.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $31.73 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $9.69 billion, a PE ratio of -122.02 and a beta of 1.13. The firm’s 50 day moving average price is $30.65 and its 200-day moving average price is $28.88. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $32.78.

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

Brookfield Renewable Partners Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a yield of 4.9%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s payout ratio is currently -603.85%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kelleher Financial Advisors bought a new position in shares of Brookfield Renewable Partners in the third quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at $34,000. Root Financial Partners LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at $46,000. Hilltop National Bank lifted its stake in shares of Brookfield Renewable Partners by 37.6% during the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock valued at $47,000 after buying an additional 500 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $55,000. 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.