Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.78 Consensus PT from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been given an average rating of “Buy” by the eight research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $31.78.

Several equities research analysts have commented on BEP shares. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. CIBC upped their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $25.17 on Friday. The business’s 50-day moving average is $26.59 and its two-hundred day moving average is $25.95. The company has a market capitalization of $7.18 billion, a P/E ratio of -30.69 and a beta of 0.95. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same period last year, the business earned ($0.14) earnings per share. Research analysts predict that Brookfield Renewable Partners will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is -173.17%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at about $42,331,000. Triasima Portfolio Management inc. acquired a new stake in shares of Brookfield Renewable Partners in the second quarter valued at about $16,936,000. Liontrust Investment Partners LLP acquired a new stake in shares of Brookfield Renewable Partners in the second quarter valued at about $14,862,000. Price T Rowe Associates Inc. MD raised its position in shares of Brookfield Renewable Partners by 103.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock valued at $27,214,000 after buying an additional 595,335 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Brookfield Renewable Partners by 4.5% in the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after buying an additional 330,648 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

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.