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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $31.78.

Several research analysts have recently commented on BEP shares. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. CIBC boosted their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th.

Institutional Trading of Brookfield Renewable Partners

Hedge funds have recently made changes to their positions in the stock. Intact Investment Management Inc. bought a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $42,331,000. Price T Rowe Associates Inc. MD increased its stake in shares of Brookfield Renewable Partners by 103.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after purchasing an additional 595,335 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Brookfield Renewable Partners by 2,229.4% in the 1st quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider’s stock worth $593,000 after buying an additional 24,412 shares in the last quarter. TD Asset Management Inc increased its stake in Brookfield Renewable Partners by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after buying an additional 67,777 shares in the last quarter. Finally, Triasima Portfolio Management inc. purchased a new stake in Brookfield Renewable Partners in the 2nd quarter worth $16,936,000. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Trading Down 0.6 %

Shares of BEP stock opened at $25.17 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average price of $26.58 and a two-hundred day moving average price of $25.89. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The firm has a market cap of $7.18 billion, a P/E ratio of -30.69 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the prior year, the firm posted ($0.14) EPS. Equities analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 5.64%. Brookfield Renewable Partners’s payout ratio is -173.17%.

About Brookfield Renewable Partners

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.