Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $30.50 Consensus PT from Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $30.50.

Several research analysts have recently weighed in on BEP shares. Wells Fargo & Company dropped their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. CIBC lowered their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Scotiabank lifted their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th.

Brookfield Renewable Partners Trading Down 0.8 %

Shares of NYSE:BEP opened at $23.38 on Friday. The stock’s 50-day simple moving average is $22.22 and its two-hundred day simple moving average is $24.28. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of -26.27 and a beta of 1.02. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the previous year, the firm posted $0.01 EPS. Analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s payout ratio is -167.42%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in Brookfield Renewable Partners by 1.3% in the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider’s stock worth $375,248,000 after purchasing an additional 211,467 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after purchasing an additional 1,628,524 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Renewable Partners by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after buying an additional 246,163 shares in the last quarter. Bank of Montreal Can boosted its stake in Brookfield Renewable Partners by 4.7% during the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock valued at $160,585,000 after buying an additional 315,272 shares during the last quarter. Finally, Cibc World Market Inc. grew its holdings in Brookfield Renewable Partners by 4.4% during the 4th quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock valued at $62,647,000 after buying an additional 116,593 shares in the last quarter. 63.16% of the stock is 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.