Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.17 Average Target Price from Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $31.17.

A number of brokerages recently issued reports on BEP. Royal Bank of Canada increased their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. CIBC increased their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. BMO Capital Markets increased their price objective on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, May 6th. National Bankshares increased their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. Finally, Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 12th.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Brookfield Renewable Partners by 0.9% in the third quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock valued at $288,107,000 after buying an additional 117,246 shares during the last quarter. FIL Ltd raised its position in shares of Brookfield Renewable Partners by 37.1% in the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after buying an additional 3,474,522 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock valued at $326,691,000 after buying an additional 173,402 shares during the last quarter. Principal Financial Group Inc. increased its position in Brookfield Renewable Partners by 4.4% during the first quarter. Principal Financial Group Inc. now owns 7,208,237 shares of the utilities provider’s stock worth $167,447,000 after purchasing an additional 302,274 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Brookfield Renewable Partners by 63.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock worth $162,917,000 after purchasing an additional 2,394,853 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $24.52 on Wednesday. The company’s fifty day moving average price is $25.39 and its 200 day moving average price is $24.81. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $30.32. The company has a market capitalization of $6.99 billion, a PE ratio of -53.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The firm had revenue of $875.00 million for the quarter, compared to analysts’ expectations of $828.39 million. On average, research analysts predict that Brookfield Renewable Partners will post -0.49 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -308.69%.

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.