Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $34.7857.

Several equities analysts recently commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. Desjardins upgraded Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th. National Bankshares raised their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. UBS Group restated a “buy” rating and set a $39.00 price objective (up previously from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $35.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 29th.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEP. Hilltop National Bank raised its position in shares of Brookfield Renewable Partners by 37.6% during the third quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 500 shares during the last quarter. Aviso Financial Inc. increased its position in Brookfield Renewable Partners by 9.6% during the 3rd quarter. Aviso Financial Inc. now owns 8,338 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 733 shares during the period. Envestnet Asset Management Inc. raised its holdings in Brookfield Renewable Partners by 7.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock worth $264,000 after purchasing an additional 742 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Brookfield Renewable Partners by 2.6% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 29,600 shares of the utilities provider’s stock worth $763,000 after purchasing an additional 750 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Brookfield Renewable Partners by 9.5% in the 4th quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 750 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock opened at $30.45 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.58 and a current ratio of 0.19. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $32.72. The stock has a market capitalization of $8.64 billion, a P/E ratio of -117.10 and a beta of 1.14. The stock has a fifty day moving average of $28.06 and a 200-day moving average of $27.42.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. On average, sell-side analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.392 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 5.2%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -600.00%.

Brookfield Renewable Partners Company Profile

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.