Brookfield Renewable Partners (NYSE:BEP) Posts Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) released its quarterly earnings results on Wednesday. The utilities provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.22, Zacks reports. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%.

Brookfield Renewable Partners Stock Up 0.1%

Shares of NYSE:BEP traded up $0.03 on Friday, reaching $31.03. The company had a trading volume of 126,995 shares, compared to its average volume of 624,828. The firm has a market capitalization of $8.81 billion, a PE ratio of -32.67 and a beta of 1.16. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. Brookfield Renewable Partners has a 52-week low of $19.29 and a 52-week high of $32.72. The firm’s 50 day simple moving average is $27.20 and its 200-day simple moving average is $25.74.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.26%.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds have recently modified their holdings of BEP. Russell Investments Group Ltd. purchased a new position in shares of Brookfield Renewable Partners in the second quarter worth about $34,000. Envestnet Asset Management Inc. lifted its holdings in Brookfield Renewable Partners by 7.8% in the third quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock valued at $264,000 after acquiring an additional 742 shares during the period. Cresset Asset Management LLC boosted its position in Brookfield Renewable Partners by 42.8% in the 2nd quarter. Cresset Asset Management LLC now owns 20,031 shares of the utilities provider’s stock worth $511,000 after purchasing an additional 6,000 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Brookfield Renewable Partners by 5.4% during the 2nd quarter. Osaic Holdings Inc. now owns 23,468 shares of the utilities provider’s stock valued at $599,000 after purchasing an additional 1,212 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in Brookfield Renewable Partners during the second quarter worth $648,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BEP has been the topic of several recent analyst reports. Desjardins increased their price target on Brookfield Renewable Partners from $42.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Royal Bank Of Canada increased their target price on Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Mizuho set a $33.00 target price on Brookfield Renewable Partners in a research report on Friday. BMO Capital Markets set a $36.00 price target on shares of Brookfield Renewable Partners and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

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.