Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.78 Consensus Price Target from Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned an average recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $32.44.

A number of brokerages recently commented on BEP. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. CIBC increased their price objective on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Finally, National Bankshares reduced their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th.

Brookfield Renewable Partners Trading Down 0.0 %

BEP opened at $22.62 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of -27.59 and a beta of 0.95. The business has a fifty day moving average price of $24.41 and a 200 day moving average price of $25.20. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. Sell-side analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Renewable Partners in the third quarter valued at approximately $42,331,000. Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Renewable Partners in the second quarter valued at about $16,936,000. Principal Financial Group Inc. grew its holdings in Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after buying an additional 330,648 shares during the last quarter. Mirabella Financial Services LLP boosted its stake in shares of Brookfield Renewable Partners by 145.2% during the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after acquiring an additional 276,374 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $6,191,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

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.