Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $31.17

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $31.17.

Several research firms have weighed in on BEP. Royal Bank of Canada lifted their price objective on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. StockNews.com started coverage on shares of Brookfield Renewable Partners in a research report on Friday. They set a “sell” rating for the company. TD Securities boosted their target price on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. CIBC upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, BMO Capital Markets upped their target price on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, May 6th.

Brookfield Renewable Partners Price Performance

NYSE BEP opened at $24.49 on Wednesday. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $30.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $6.98 billion, a PE ratio of -53.24 and a beta of 0.94. The company’s 50 day simple moving average is $25.39 and its 200 day simple moving average is $24.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.24). The business had revenue of $875.00 million during the quarter, compared to analyst estimates of $828.39 million. Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. As a group, equities research analysts forecast that Brookfield Renewable Partners will post -0.49 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio is presently -308.69%.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Baystate Wealth Management LLC bought a new position in Brookfield Renewable Partners in the 4th quarter valued at about $26,000. Scarborough Advisors LLC bought a new stake in Brookfield Renewable Partners during the 4th quarter worth approximately $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Brookfield Renewable Partners in the 1st quarter worth approximately $31,000. Evermay Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners in the 1st quarter worth approximately $49,000. Finally, Clear Point Advisors Inc. acquired a new position in shares of Brookfield Renewable Partners in the 1st quarter worth approximately $49,000. Institutional investors and hedge funds 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.