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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Seven equities research 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 analysts that have issued a report on the stock in the last year is $31.89.

Several research firms have weighed in on BEP. CIBC increased their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research note on Thursday, December 12th. Finally, UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.00 to $31.00 in a report on Monday, September 30th.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several large investors have recently bought and sold shares of BEP. GAMMA Investing LLC raised its holdings in Brookfield Renewable Partners by 86.5% in the 3rd 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 acquired a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $28,000. Waverton Investment Management Ltd acquired a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $178,000. Barclays PLC raised its position in Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Creative Planning bought a new position in shares of Brookfield Renewable Partners during the third quarter worth about $206,000. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Trading Down 1.4 %

Shares of NYSE:BEP opened at $23.51 on Wednesday. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $6.70 billion, a P/E ratio of -28.67 and a beta of 0.93. The company has a 50-day simple moving average of $25.82 and a 200 day simple moving average of $25.59.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released 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 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 in the previous year, the business earned ($0.14) earnings per share. Sell-side analysts forecast that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed 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. This represents a $1.42 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

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.