Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Target Price at $31.78

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.89.

BEP has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target for the company in a research report on Thursday. StockNews.com raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $31.00 in a report on Monday, September 30th. Finally, CIBC upped their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd.

Brookfield Renewable Partners Stock Down 0.2 %

Shares of NYSE BEP opened at $23.79 on Wednesday. The firm has a fifty day simple moving average of $26.00 and a two-hundred day simple moving average of $25.70. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.78 billion, a PE ratio of -29.01 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the prior year, the firm earned ($0.14) earnings per share. Equities analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.97%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Brookfield Renewable Partners during the third quarter worth $28,000. Waverton Investment Management Ltd bought a new position in Brookfield Renewable Partners during the 3rd quarter valued at about $178,000. Barclays PLC grew its stake in shares of Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after buying an additional 2,036 shares during the last quarter. Finally, Creative Planning bought a new position in Brookfield Renewable Partners in the 3rd quarter valued at $206,000. 63.16% of the stock is currently owned by institutional investors.

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.