Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) PT at $39.70

Brookfield Renewable Partners L.P. (NYSE:BEPGet Rating) (TSE:BEP) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $39.70.

A number of analysts recently weighed in on BEP shares. TD Securities initiated coverage on Brookfield Renewable Partners in a report on Tuesday, October 18th. They issued a “buy” rating for the company. Royal Bank of Canada raised their price target on shares of Brookfield Renewable Partners from $39.00 to $43.00 and gave the company a “sector perform” rating in a research report on Monday, August 8th. Wells Fargo & Company dropped their price target on shares of Brookfield Renewable Partners from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield Renewable Partners from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. Finally, StockNews.com began coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several large investors have recently modified their holdings of BEP. Bank of New York Mellon Corp grew its stake in Brookfield Renewable Partners by 4.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,574 shares of the utilities provider’s stock valued at $237,000 after buying an additional 343 shares in the last quarter. Credit Suisse AG grew its stake in Brookfield Renewable Partners by 2.6% in the 2nd quarter. Credit Suisse AG now owns 13,490 shares of the utilities provider’s stock valued at $469,000 after buying an additional 348 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Brookfield Renewable Partners by 0.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 39,284 shares of the utilities provider’s stock valued at $1,229,000 after buying an additional 348 shares in the last quarter. JCIC Asset Management Inc. grew its stake in Brookfield Renewable Partners by 19.0% in the 3rd quarter. JCIC Asset Management Inc. now owns 2,347 shares of the utilities provider’s stock valued at $68,000 after buying an additional 375 shares in the last quarter. Finally, Keybank National Association OH grew its stake in Brookfield Renewable Partners by 2.7% in the 2nd quarter. Keybank National Association OH now owns 15,647 shares of the utilities provider’s stock valued at $545,000 after buying an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Brookfield Renewable Partners Stock Up 1.7 %

NYSE BEP opened at $29.11 on Tuesday. The business has a fifty day moving average price of $30.60 and a two-hundred day moving average price of $34.41. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.79 and a quick ratio of 0.79. Brookfield Renewable Partners has a fifty-two week low of $27.32 and a fifty-two week high of $41.95. The stock has a market capitalization of $8.01 billion, a PE ratio of -51.98 and a beta of 0.71.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 4.40%. Brookfield Renewable Partners’s payout ratio is currently -228.57%.

Brookfield Renewable Partners Company Profile

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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 hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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