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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $38.00.

Several research analysts have commented on the stock. TD Securities restated a “buy” rating and set a $39.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Zacks Research lowered Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Wall Street Zen cut Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. UBS Group restated a “buy” rating and set a $40.00 price objective (up from $39.00) on shares of Brookfield Renewable Partners in a research report on Friday, June 12th. Finally, Morgan Stanley raised their price objective on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd.

Brookfield Renewable Partners Price Performance

BEP stock opened at $33.38 on Thursday. The company’s 50-day moving average price is $34.95 and its two-hundred day moving average price is $32.14. The firm has a market cap of $10.07 billion, a P/E ratio of -107.66 and a beta of 1.10. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. Brookfield Renewable Partners has a 12 month low of $24.13 and a 12 month high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. On average, analysts anticipate that Brookfield Renewable Partners will post -1.53 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a $0.392 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%. Brookfield Renewable Partners’s dividend payout ratio is -506.45%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kelleher Financial Advisors acquired a new position in Brookfield Renewable Partners during the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the 2nd quarter valued at approximately $34,000. Triumph Capital Management acquired a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $55,000. CENTRAL TRUST Co acquired a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $55,000. Finally, Global Retirement Partners LLC grew its stake in shares of Brookfield Renewable Partners by 284.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after buying an additional 1,633 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

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.