Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Target Price at $29.67

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $29.67.

Several equities analysts have issued reports on BEP shares. Barclays began coverage on shares of Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They issued an “equal weight” rating and a $27.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Finally, CIBC dropped their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a research note on Monday, May 5th.

Brookfield Renewable Partners Price Performance

BEP stock opened at $23.44 on Friday. The company has a 50 day simple moving average of $22.34 and a 200 day simple moving average of $23.07. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of -26.34 and a beta of 0.99. Brookfield Renewable Partners has a 1 year low of $19.29 and a 1 year high of $29.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. The firm had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. Research analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a yield of 6.37%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -147.52%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC raised its stake in shares of Brookfield Renewable Partners by 103.6% in the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 579 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Renewable Partners in the third quarter valued at about $28,000. Promus Capital LLC purchased a new position in Brookfield Renewable Partners during the fourth quarter worth about $37,000. Rossby Financial LCC bought a new position in shares of Brookfield Renewable Partners during the 1st quarter worth approximately $41,000. Finally, NBC Securities Inc. bought a new position in Brookfield Renewable Partners in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.