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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $37.2143.

Several equities research analysts have recently commented on BEP shares. Barclays set a $28.00 price target on shares of Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. TD Securities reiterated a “buy” rating and set a $39.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. Finally, TD boosted their price objective on Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, May 4th.

Brookfield Renewable Partners Price Performance

NYSE BEP opened at $34.06 on Wednesday. Brookfield Renewable Partners has a 52 week low of $22.64 and a 52 week high of $35.97. The firm has a market capitalization of $10.33 billion, a P/E ratio of -109.88 and a beta of 1.06. 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 company has a 50-day moving average price of $33.02 and a 200-day moving average price of $30.49.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) 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 business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Equities research analysts anticipate that Brookfield Renewable Partners will post -1.16 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Kelleher Financial Advisors bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $26,000. Russell Investments Group Ltd. bought a new position in shares of Brookfield Renewable Partners during the 2nd quarter valued at approximately $34,000. CENTRAL TRUST Co bought a new position in shares of Brookfield Renewable Partners during the 1st quarter valued at approximately $55,000. Root Financial Partners LLC bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $46,000. Finally, Triumph Capital Management bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $55,000. 63.16% of the stock is currently 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.