Brookfield Renewable Partners LP (NYSE:BEP) Given Average Recommendation of “Buy” by Analysts

Shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) have been given a consensus recommendation of “Buy” by the fourteen analysts that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $52.47.

Several equities analysts recently weighed in on the stock. R. F. Lafferty assumed coverage on shares of Brookfield Renewable Partners in a report on Tuesday, March 3rd. They set a “buy” rating and a $59.00 target price on the stock. Mizuho assumed coverage on shares of Brookfield Renewable Partners in a report on Thursday, May 14th. They set a “neutral” rating and a $49.00 target price on the stock. Industrial Alliance Securities upgraded shares of Brookfield Renewable Partners to a “buy” rating and set a $63.69 target price on the stock in a report on Friday, March 20th. Barclays reduced their target price on shares of Brookfield Renewable Partners from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Finally, National Bank Financial lifted their target price on shares of Brookfield Renewable Partners from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, April 30th.

Shares of BEP traded up $0.04 during mid-day trading on Tuesday, reaching $47.45. The company had a trading volume of 193,500 shares, compared to its average volume of 453,451. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of -175.74 and a beta of 0.65. The firm has a fifty day simple moving average of $48.63 and a 200-day simple moving average of $47.30. Brookfield Renewable Partners has a fifty-two week low of $30.09 and a fifty-two week high of $57.69. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The company had revenue of $792.00 million during the quarter. Brookfield Renewable Partners had a net margin of 4.68% and a return on equity of 0.85%.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, May 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -1,142.11%.

A number of institutional investors have recently added to or reduced their stakes in BEP. Bank of Montreal Can increased its position in shares of Brookfield Renewable Partners by 1.0% in the 4th quarter. Bank of Montreal Can now owns 4,877,318 shares of the utilities provider’s stock worth $227,430,000 after purchasing an additional 50,587 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Brookfield Renewable Partners by 44.7% in the 1st quarter. CIBC Asset Management Inc now owns 2,795,225 shares of the utilities provider’s stock worth $117,134,000 after purchasing an additional 863,197 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Brookfield Renewable Partners by 2.1% in the 4th quarter. Toronto Dominion Bank now owns 2,168,528 shares of the utilities provider’s stock worth $100,755,000 after purchasing an additional 44,240 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Brookfield Renewable Partners by 17.5% in the 4th quarter. TD Asset Management Inc. now owns 1,300,895 shares of the utilities provider’s stock worth $60,493,000 after purchasing an additional 193,351 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Brookfield Renewable Partners by 1,223.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,243,318 shares of the utilities provider’s stock worth $52,829,000 after purchasing an additional 1,149,362 shares during the last quarter. 57.73% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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