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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $34.8571.

Several equities analysts recently commented on the company. TD Securities upped their price objective on Brookfield Renewable Partners from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. National Bankshares increased their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Scotiabank restated an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Brookfield Renewable Partners in a research note on Thursday, November 6th. Finally, UBS Group reiterated a “buy” rating and set a $39.00 target price (up previously from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th.

Brookfield Renewable Partners Price Performance

BEP opened at $28.08 on Thursday. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $32.72. The firm has a 50-day moving average of $28.12 and a 200 day moving average of $27.12. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $8.59 billion, a P/E ratio of -32.65 and a beta of 1.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.22. Brookfield Renewable Partners had a net margin of 3.52% and a return on equity of 0.66%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. On average, research analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, November 28th. Brookfield Renewable Partners’s payout ratio is currently -173.26%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of large investors have recently made changes to their positions in BEP. Kelleher Financial Advisors purchased a new position in shares of Brookfield Renewable Partners in the third quarter valued at $26,000. Hilltop National Bank bought a new position in Brookfield Renewable Partners in the 2nd quarter worth about $34,000. Russell Investments Group Ltd. purchased a new position in Brookfield Renewable Partners during the 2nd quarter valued at about $34,000. Root Financial Partners LLC bought a new stake in shares of Brookfield Renewable Partners during the third quarter valued at about $46,000. Finally, Activest Wealth Management bought a new stake in shares of Brookfield Renewable Partners during the second quarter valued at about $50,000. 63.16% of the stock is owned by institutional investors.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.