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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.2143.

A number of equities research analysts have issued reports on BEP shares. Canadian Imperial Bank of Commerce assumed coverage on shares of Brookfield Renewable Partners in a report on Wednesday, March 4th. They set an “outperformer” rating and a $37.00 price objective for the company. UBS Group reissued a “buy” rating and issued a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a report on Friday, December 5th. National Bank Financial upped their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Wall Street Zen raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Morgan Stanley lifted their price target on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $31.73 on Tuesday. The stock’s 50-day simple moving average is $30.65 and its 200-day simple moving average is $28.88. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $32.78. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -122.02 and a beta of 1.13. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80.

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, topping the consensus estimate of ($0.34) by $0.88. The firm had revenue of $1.54 billion during 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%. As a group, analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.9%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Renewable Partners’s payout ratio is presently -603.85%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors have recently added to or reduced their stakes in BEP. Kelleher Financial Advisors bought a new stake in Brookfield Renewable Partners in the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new position in shares of Brookfield Renewable Partners during the 2nd quarter valued at approximately $34,000. Root Financial Partners LLC bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $46,000. Hilltop National Bank grew its holdings in shares of Brookfield Renewable Partners by 37.6% in the third quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 500 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in shares of Brookfield Renewable Partners in the third quarter valued at $55,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.