Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $30.50 Average Price Target from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $30.75.

A number of brokerages recently weighed in on BEP. Royal Bank of Canada boosted their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday. Scotiabank boosted their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday. National Bankshares lifted their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday. BMO Capital Markets upped their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. Finally, CIBC raised their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Brookfield Renewable Partners by 0.9% during the third quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock worth $288,107,000 after buying an additional 117,246 shares in the last quarter. Montrusco Bolton Investments Inc. grew its holdings in shares of Brookfield Renewable Partners by 17.4% during the third quarter. Montrusco Bolton Investments Inc. now owns 1,984,628 shares of the utilities provider’s stock worth $43,318,000 after purchasing an additional 294,302 shares during the last quarter. Baystate Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners in the fourth quarter valued at approximately $26,000. Maven Securities LTD bought a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $1,087,000. Finally, Alpine Global Management LLC acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $282,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock opened at $26.63 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -57.89 and a beta of 0.83. The business’s 50-day simple moving average is $22.51 and its 200 day simple moving average is $23.97. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.31%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.16) earnings per share. As a group, research analysts anticipate that Brookfield Renewable Partners will post -0.01 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio is presently -219.56%.

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.