Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $30.18 Average Target Price from Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been given a consensus recommendation of “Buy” by the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, eight 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 $30.18.

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

Brookfield Renewable Partners Trading Up 2.5 %

Shares of Brookfield Renewable Partners stock opened at $21.54 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of -24.20 and a beta of 0.99. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $29.56. The business has a 50-day moving average price of $22.36 and a 200-day moving average price of $23.67.

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

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.373 per share. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.93%. The ex-dividend date was Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in shares of Brookfield Renewable Partners by 609.2% during the third quarter. BNP Paribas Financial Markets now owns 11,808 shares of the utilities provider’s stock worth $333,000 after purchasing an additional 10,143 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Brookfield Renewable Partners by 1.6% in the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after purchasing an additional 749 shares during the last quarter. Stifel Financial Corp increased its stake in Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after buying an additional 403 shares during the period. Barclays PLC lifted its holdings in Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after buying an additional 2,036 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. Institutional investors own 63.16% of the company’s stock.

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.