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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $31.82.

BEP has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. National Bankshares raised their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Scotiabank boosted their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, June 12th. CIBC upped their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, BMO Capital Markets lifted their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, May 6th.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of hedge funds have recently bought and sold shares of BEP. FIL Ltd boosted its stake in shares of Brookfield Renewable Partners by 37.1% in the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after buying an additional 3,474,522 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Brookfield Renewable Partners by 1.4% in the fourth 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 last quarter. Principal Financial Group Inc. boosted its position in Brookfield Renewable Partners by 0.9% in the second quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock worth $180,203,000 after purchasing an additional 66,794 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Brookfield Renewable Partners by 0.6% during the 2nd quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after purchasing an additional 37,836 shares during the period. Finally, CCLA Investment Management increased its position in shares of Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after purchasing an additional 47,734 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Down 0.5 %

BEP stock opened at $24.34 on Thursday. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $28.81. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -52.91 and a beta of 0.92. The business’s 50 day moving average price is $25.24 and its two-hundred day moving average price is $24.50. 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 (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. As a group, analysts forecast that Brookfield Renewable Partners will post -0.49 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable Partners’s payout ratio is -308.70%.

Brookfield Renewable Partners Company Profile

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.