Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.78 Consensus PT from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $31.78.

Several equities analysts have recently commented on the company. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $24.00 to $31.00 in a report on Monday, September 30th. CIBC upped their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. National Bankshares reduced their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Thursday, December 12th.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $23.70 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The company has a fifty day moving average price of $24.63 and a two-hundred day moving average price of $25.27. The company has a market cap of $6.76 billion, a PE ratio of -28.90 and a beta of 0.95.

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

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a $0.355 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.99%. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Trading of Brookfield Renewable Partners

Institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp raised its holdings in Brookfield Renewable Partners by 1.3% during the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 403 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the period. HighTower Advisors LLC raised its stake in shares of Brookfield Renewable Partners by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after buying an additional 749 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Brookfield Renewable Partners by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock valued at $394,000 after buying an additional 945 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Brookfield Renewable Partners during the third quarter valued at about $28,000. 63.16% of the stock is owned by institutional investors and hedge funds.

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.