Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Average Rating of “Buy” from Brokerages

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 firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $30.50.

Several research firms recently weighed in on BEP. Scotiabank lifted their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Finally, National Bankshares cut their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mirabella Financial Services LLP raised its position in Brookfield Renewable Partners by 145.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after buying an additional 276,374 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after acquiring an additional 26,189 shares during the period. BNP Paribas Financial Markets raised its holdings 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 valued at $333,000 after purchasing an additional 10,143 shares during the last quarter. Cadence Bank bought a new position in Brookfield Renewable Partners during the third quarter valued at approximately $212,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Brookfield Renewable Partners by 8.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 328,066 shares of the utilities provider’s stock worth $9,245,000 after purchasing an additional 24,467 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Trading Down 0.8 %

NYSE:BEP opened at $23.38 on Friday. The company has a 50-day moving average price of $22.22 and a 200-day moving average price of $24.28. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of -26.27 and a beta of 1.02. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. 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 data on Friday, January 31st. The utilities provider reported ($0.06) EPS 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 last year, the firm earned $0.01 earnings per share. Equities analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

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

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.