Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $32.30

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given a consensus recommendation of “Buy” by the eight brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.78.

BEP has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC increased their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors acquired a new stake in Brookfield Renewable Partners during the third quarter worth approximately $272,000. International Assets Investment Management LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at $4,880,000. Private Advisor Group LLC grew its stake in Brookfield Renewable Partners by 47.8% during the third quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider’s stock worth $917,000 after buying an additional 10,521 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $6,191,000. Finally, Aspiriant LLC acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at $241,000. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Trading Down 0.3 %

BEP opened at $27.77 on Tuesday. The stock has a market capitalization of $7.91 billion, a P/E ratio of -60.35 and a beta of 0.94. 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 12 month low of $19.92 and a 12 month high of $29.56. The firm’s fifty day simple moving average is $26.06 and its 200 day simple moving average is $25.38.

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

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.355 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.11%. Brookfield Renewable Partners’s payout ratio is -308.70%.

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.