Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.90 Average Price Target from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $32.50.

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. National Bankshares lifted their price target on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $31.00 in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. Finally, StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $26.90 on Friday. The stock has a market cap of $7.67 billion, a P/E ratio of -58.48 and a beta of 0.94. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $28.81. The stock’s 50-day moving average price is $25.25 and its two-hundred day moving average price is $24.94. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) EPS. On average, equities analysts predict that Brookfield Renewable Partners will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.28%. The ex-dividend date was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors and hedge funds have recently modified their holdings of BEP. FIL Ltd lifted its stake in shares of Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after buying an additional 3,474,522 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock valued at $326,691,000 after purchasing an additional 173,402 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Brookfield Renewable Partners by 0.9% during the 2nd quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock worth $180,203,000 after purchasing an additional 66,794 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Brookfield Renewable Partners by 0.6% in the 2nd quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after purchasing an additional 37,836 shares during the period. Finally, CCLA Investment Management grew its position in shares of Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after purchasing an additional 47,734 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

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.