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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.1429.

Several brokerages recently issued reports on BEP. Barclays set a $30.00 price target on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. BMO Capital Markets set a $41.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, August 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Wednesday, June 24th. National Bank Financial decreased their price target on shares of Brookfield Renewable Partners from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $36.00 price objective on shares of Brookfield Renewable Partners in a research report on Tuesday, July 21st.

Institutional Trading of Brookfield Renewable Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Brookfield Renewable Partners by 7.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock valued at $264,000 after purchasing an additional 742 shares during the period. Allworth Financial LP grew its position in shares of Brookfield Renewable Partners by 9.5% during the 4th quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock worth $233,000 after buying an additional 750 shares during the period. Tacita Capital Inc grew its position in shares of Brookfield Renewable Partners by 0.7% during the 4th quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock worth $3,220,000 after buying an additional 770 shares during the period. Kelleher Financial Advisors acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $26,000. Finally, Osaic Holdings Inc. raised its stake in shares of Brookfield Renewable Partners by 5.4% during the second quarter. Osaic Holdings Inc. now owns 23,468 shares of the utilities provider’s stock worth $599,000 after buying an additional 1,212 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 0.0%

Shares of BEP opened at $32.48 on Friday. The company has a market capitalization of $9.75 billion, a P/E ratio of -70.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.80 and a quick ratio of 0.80. Brookfield Renewable Partners has a one year low of $24.48 and a one year high of $38.12. The business’s 50 day simple moving average is $33.34 and its 200-day simple moving average is $33.34.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%.The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.56 billion. As a group, sell-side analysts predict that Brookfield Renewable Partners will post -1.87 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio is -341.30%.

Brookfield Renewable Partners Company Profile

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.