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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received a consensus rating of “Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $30.18.

A number of equities research analysts have recently weighed in on BEP shares. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. Scotiabank boosted their target price on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. CIBC reduced their price target on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. Finally, National Bankshares lowered their price objective on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Brookfield Renewable Partners during the 3rd quarter valued at about $28,000. Promus Capital LLC bought a new position in shares of Brookfield Renewable Partners during the fourth quarter valued at approximately $37,000. NBC Securities Inc. purchased a new position in shares of Brookfield Renewable Partners during the first quarter valued at approximately $42,000. Jones Financial Companies Lllp boosted its position in shares of Brookfield Renewable Partners by 26.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 537 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $68,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Up 2.5 %

NYSE BEP opened at $21.54 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The stock’s 50-day simple moving average is $22.35 and its two-hundred day simple moving average is $23.60. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -24.20 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter last year, the firm posted $0.01 EPS. Research analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 6.93%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

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.