Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.78 Average Target Price from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have received an average rating of “Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $31.78.

A number of brokerages have recently issued reports on BEP. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. CIBC raised their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $24.93 on Friday. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.52. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -30.71 and a beta of 0.95. The business has a 50-day moving average of $26.60 and a 200-day moving average of $25.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. During the same quarter last year, the business earned ($0.14) earnings per share. As a group, equities 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 Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.70%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.17%.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds have recently bought and sold shares of BEP. Intact Investment Management Inc. bought a new stake in Brookfield Renewable Partners during the third quarter worth $42,331,000. Triasima Portfolio Management inc. bought a new stake in shares of Brookfield Renewable Partners in the second quarter valued at $16,936,000. Liontrust Investment Partners LLP bought a new stake in shares of Brookfield Renewable Partners in the second quarter valued at $14,862,000. Price T Rowe Associates Inc. MD raised its stake in shares of Brookfield Renewable Partners by 103.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock valued at $27,214,000 after buying an additional 595,335 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 4.5% in the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after buying an additional 330,648 shares during the period. 63.16% of the stock is currently owned by institutional investors.

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.