Brookfield Renewable Partners L.P. (NYSE:BEP) Given Consensus Recommendation of “Buy” by Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus rating of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.78.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Scotiabank decreased their target price on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. National Bankshares cut their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 26th.

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after purchasing an additional 330,648 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after buying an additional 26,189 shares during the period. Cibc World Market Inc. grew its position in Brookfield Renewable Partners by 4.4% during the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after buying an additional 116,593 shares in the last quarter. CCLA Investment Management increased its stake in Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after acquiring an additional 49,553 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Brookfield Renewable Partners by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock valued at $48,905,000 after acquiring an additional 173,882 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $20.63 on Thursday. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $5.88 billion, a PE ratio of -25.16 and a beta of 0.95. The company’s 50 day moving average price is $23.28 and its 200 day moving average price is $24.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Research analysts expect that Brookfield Renewable Partners will post -0.88 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 6.88%. Brookfield Renewable Partners’s payout ratio is -173.17%.

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.