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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $31.17.

A number of research analysts recently weighed in on the stock. National Bankshares lifted their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. TD Securities lifted their target price on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. BMO Capital Markets lifted their target price on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. CIBC lifted their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, StockNews.com began coverage on shares of Brookfield Renewable Partners in a report on Friday. They issued a “sell” rating on the stock.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of Brookfield Renewable Partners by 0.9% in the 3rd quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock worth $288,107,000 after buying an additional 117,246 shares during the last quarter. FIL Ltd boosted its stake in shares of Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after purchasing an additional 3,474,522 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Brookfield Renewable Partners by 1.4% during the 4th quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after purchasing an additional 173,402 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Brookfield Renewable Partners by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 7,208,237 shares of the utilities provider’s stock worth $167,447,000 after purchasing an additional 302,274 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Brookfield Renewable Partners by 63.2% during the 4th quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock worth $162,917,000 after purchasing an additional 2,394,853 shares during the period. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Stock Down 0.7 %

BEP opened at $24.52 on Wednesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $30.32. The firm’s fifty day moving average is $25.39 and its 200 day moving average is $24.81. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of -53.30 and a beta of 0.94.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The firm had revenue of $875.00 million for the quarter, compared to analysts’ expectations of $828.39 million. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -0.49 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a $0.355 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.79%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -308.69%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.