Zacks: Brokerages Expect Brookfield Renewable Partners LP (BEP) to Announce $0.08 EPS
Equities research analysts predict that Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) will announce $0.08 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Brookfield Renewable Partners’ earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.00. Brookfield Renewable Partners posted earnings per share of ($0.11) in the same quarter last year, which would suggest a positive year-over-year growth rate of 172.7%. The business is scheduled to issue its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Brookfield Renewable Partners will report full year earnings of ($0.34) per share for the current year, with EPS estimates ranging from ($0.40) to ($0.28). For the next year, analysts forecast that the business will post earnings of $0.31 per share, with EPS estimates ranging from $0.05 to $0.69. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Brookfield Renewable Partners.
Brookfield Renewable Partners (NYSE:BEP) last issued its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.06. The firm had revenue of $677 million for the quarter, compared to analyst estimates of $699.25 million. Brookfield Renewable Partners had a net margin of 1.36% and a return on equity of 0.27%.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a report on Monday, February 27th. BMO Capital Markets downgraded Brookfield Renewable Partners from an “outperform” rating to a “market perform” rating and set a $33.00 price objective for the company. in a report on Wednesday, May 24th. They noted that the move was a valuation call. Wells Fargo & Co assumed coverage on Brookfield Renewable Partners in a report on Tuesday, May 9th. They issued an “outperform” rating for the company. Barclays PLC reiterated a “hold” rating and issued a $33.00 price objective on shares of Brookfield Renewable Partners in a report on Friday, February 3rd. Finally, GMP Securities reiterated a “buy” rating and issued a $32.00 price objective on shares of Brookfield Renewable Partners in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.60.
Brookfield Renewable Partners (NYSE:BEP) opened at 31.74 on Monday. Brookfield Renewable Partners has a one year low of $26.61 and a one year high of $32.99. The company’s 50-day moving average is $31.19 and its 200-day moving average is $29.68. The firm’s market cap is $9.41 billion.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be paid a $0.4675 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.89%. Brookfield Renewable Partners’s dividend payout ratio is currently -1,112.50%.
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Several large investors have recently added to or reduced their stakes in BEP. Principal Financial Group Inc. boosted its stake in Brookfield Renewable Partners by 5.6% in the first quarter. Principal Financial Group Inc. now owns 2,249,697 shares of the utilities provider’s stock worth $66,883,000 after buying an additional 119,318 shares in the last quarter. Karpas Strategies LLC boosted its stake in Brookfield Renewable Partners by 0.8% in the first quarter. Karpas Strategies LLC now owns 115,725 shares of the utilities provider’s stock worth $3,441,000 after buying an additional 900 shares in the last quarter. Hexavest Inc. boosted its stake in Brookfield Renewable Partners by 8.3% in the first quarter. Hexavest Inc. now owns 334,740 shares of the utilities provider’s stock worth $9,889,000 after buying an additional 25,708 shares in the last quarter. Bank of Montreal Can boosted its stake in Brookfield Renewable Partners by 11.4% in the first quarter. Bank of Montreal Can now owns 4,496,989 shares of the utilities provider’s stock worth $133,696,000 after buying an additional 459,698 shares in the last quarter. Finally, Catawba Capital Management VA bought a new stake in Brookfield Renewable Partners during the first quarter worth approximately $402,000. 55.92% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Renewable Partners Company Profile
Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.
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