Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.82 Average Target Price from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $31.82.

A number of brokerages have recently weighed in on BEP. JPMorgan Chase & Co. increased their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. TD Securities increased their target price on Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Scotiabank increased their target price on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 12th. Finally, National Bankshares increased their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th.

Brookfield Renewable Partners Trading Down 2.4 %

NYSE BEP opened at $24.30 on Monday. The stock has a 50-day simple moving average of $24.70 and a 200 day simple moving average of $24.46. The company has a market capitalization of $6.93 billion, a PE ratio of -52.83 and a beta of 0.93. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company earned ($0.10) earnings per share. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. Research analysts forecast that Brookfield Renewable Partners will post -0.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.355 per share. The ex-dividend date is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.84%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -308.70%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently modified their holdings of BEP. Scarborough Advisors LLC bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $30,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Brookfield Renewable Partners in the 1st quarter worth approximately $31,000. Evermay Wealth Management LLC bought a new stake in shares of Brookfield Renewable Partners in the 1st quarter worth approximately $49,000. Clear Point Advisors Inc. bought a new stake in shares of Brookfield Renewable Partners in the 1st quarter worth approximately $49,000. Finally, Northwest Financial Advisors bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.