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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $29.67.

Several analysts have recently weighed in on BEP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th.

Brookfield Renewable Partners Stock Up 1.3%

Shares of NYSE BEP opened at $24.43 on Friday. The company has a market capitalization of $6.93 billion, a P/E ratio of -27.45 and a beta of 0.99. Brookfield Renewable Partners has a 52-week low of $19.29 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 0.25. The company’s 50 day moving average price is $22.45 and its 200-day moving average price is $23.05.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). The firm had revenue of $907.00 million during the quarter, compared to analyst estimates of $1.73 billion. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. Equities analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.373 per share. The ex-dividend date is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a yield of 6.11%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -147.52%.

Institutional Trading of Brookfield Renewable Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. CCLA Investment Management increased its stake in Brookfield Renewable Partners by 1.9% during the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after purchasing an additional 49,553 shares in the last quarter. CIBC Asset Management Inc increased its stake in Brookfield Renewable Partners by 23.8% during the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after purchasing an additional 1,628,524 shares in the last quarter. Abel Hall LLC bought a new stake in Brookfield Renewable Partners during the 4th quarter valued at $456,000. Bank of Nova Scotia Trust Co. increased its stake in Brookfield Renewable Partners by 31.3% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 148,495 shares of the utilities provider’s stock valued at $3,384,000 after purchasing an additional 35,429 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Brookfield Renewable Partners during the 4th quarter valued at $2,623,000. Institutional investors 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.