Brookfield Renewable Partners L.P. (NYSE:BEP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.90.

BEP has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday. Scotiabank lifted their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 12th. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, National Bankshares lifted their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $27.97 on Friday. The stock has a market cap of $7.97 billion, a P/E ratio of -60.80 and a beta of 0.93. The stock has a 50 day simple moving average of $24.83 and a 200 day simple moving average of $24.75. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) earnings per share. Research analysts anticipate that Brookfield Renewable Partners will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.08%. Brookfield Renewable Partners’s payout ratio is -308.69%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Nova Scotia increased its stake in shares of Brookfield Renewable Partners by 10.7% in the 4th quarter. Bank of Nova Scotia now owns 704,744 shares of the utilities provider’s stock valued at $18,515,000 after purchasing an additional 67,964 shares during the last quarter. FIL Ltd grew its position in Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after acquiring an additional 3,474,522 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Brookfield Renewable Partners by 103.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after acquiring an additional 595,335 shares during the last quarter. BNP Paribas Financial Markets grew its position in Brookfield Renewable Partners by 2,229.4% during the 1st quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 24,412 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Brookfield Renewable Partners by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after acquiring an additional 67,777 shares during the last quarter. 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.