Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $31.82.

A number of equities research analysts have weighed in on BEP shares. TD Securities raised their target price on Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. BMO Capital Markets raised their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. National Bankshares raised their price target on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, August 5th.

Brookfield Renewable Partners Stock Down 0.5 %

BEP stock opened at $24.34 on Thursday. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $28.81. The business has a 50-day simple moving average of $25.24 and a 200 day simple moving average of $24.50. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.88. The company has a market cap of $6.94 billion, a PE ratio of -52.91 and a beta of 0.92.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.41). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. Brookfield Renewable Partners’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. Sell-side analysts anticipate that Brookfield Renewable Partners will post -0.49 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.83%. Brookfield Renewable Partners’s dividend payout ratio is -308.70%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BEP. Baystate Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners in the 4th quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in shares of Brookfield Renewable Partners in the fourth quarter valued at $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Brookfield Renewable Partners during the first quarter valued at about $31,000. Evermay Wealth Management LLC bought a new stake in shares of Brookfield Renewable Partners during the first quarter worth about $49,000. Finally, Clear Point Advisors Inc. acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter worth about $49,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.