Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $33.42 Consensus PT from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $34.5385.

BEP has been the subject of several recent analyst reports. Desjardins upped their target price on shares of Brookfield Renewable Partners from $42.00 to $46.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. CIBC set a $35.00 price objective on Brookfield Renewable Partners and gave the stock an “outperformer” rating in a research note on Thursday. National Bankshares boosted their target price on Brookfield Renewable Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, BMO Capital Markets set a $36.00 price target on Brookfield Renewable Partners and gave the stock an “outperform” rating in a report on Wednesday, October 29th.

Institutional Investors Weigh In On Brookfield Renewable Partners

Large investors have recently made changes to their positions in the stock. Golden State Wealth Management LLC lifted its position in Brookfield Renewable Partners by 103.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 579 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Brookfield Renewable Partners in the second quarter valued at about $34,000. Russell Investments Group Ltd. acquired a new position in shares of Brookfield Renewable Partners during the second quarter worth about $34,000. Root Financial Partners LLC acquired a new position in shares of Brookfield Renewable Partners during the third quarter worth about $46,000. Finally, Rossby Financial LCC bought a new position in shares of Brookfield Renewable Partners during the first quarter worth about $41,000. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $31.13 on Friday. The stock has a market cap of $8.84 billion, a P/E ratio of -32.77 and a beta of 1.16. Brookfield Renewable Partners has a 1 year low of $19.29 and a 1 year high of $32.72. The stock’s 50-day moving average price is $27.32 and its two-hundred day moving average price is $25.80. 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 (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.22. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%.The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.61 billion. On average, equities analysts predict that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

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

Brookfield Renewable Partners Company Profile

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.