Brookfield Renewable Partners L.P. (NYSE:BEP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $38.00.

A number of equities research analysts have weighed in on the company. Scotiabank reaffirmed an “outperform” rating and set a $42.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a report on Friday, May 29th. Wall Street Zen downgraded Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Zacks Research downgraded Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Morgan Stanley lifted their price objective on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently added to or reduced their stakes in BEP. Goldman Sachs Group Inc. boosted its holdings in Brookfield Renewable Partners by 57.0% during the first quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider’s stock valued at $20,380,000 after purchasing an additional 333,789 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Brookfield Renewable Partners during the second quarter valued at approximately $34,000. Cresset Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 6,000 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $648,000. Finally, Ameriprise Financial Inc. increased its holdings in Brookfield Renewable Partners by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,490,603 shares of the utilities provider’s stock valued at $38,025,000 after purchasing an additional 62,774 shares in the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Down 3.1%

Shares of BEP opened at $34.29 on Friday. Brookfield Renewable Partners has a 12-month low of $24.13 and a 12-month high of $38.12. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of -110.61 and a beta of 1.09. The stock’s 50-day moving average price is $34.76 and its 200 day moving average price is $31.29.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. As a group, research analysts predict that Brookfield Renewable Partners will post -1.53 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Renewable Partners’s payout ratio is presently -506.45%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.