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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $30.50.

Several analysts have recently commented on BEP shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $28.00 target price (down from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. National Bankshares upped their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Raymond James reduced their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th.

Brookfield Renewable Partners Stock Performance

BEP stock opened at $21.38 on Tuesday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $32.76. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $22.41 and a 200-day moving average price of $23.86. The firm has a market cap of $6.12 billion, a PE ratio of -66.81 and a beta of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) EPS. As a group, equities research analysts expect that Brookfield Renewable Partners will post -0.01 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were given a dividend of $0.355 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. This represents a $1.42 annualized dividend and a dividend yield of 6.64%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -421.88%.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of Brookfield Renewable Partners by 0.9% during the 3rd quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock worth $288,107,000 after purchasing an additional 117,246 shares during the last quarter. FIL Ltd raised its stake in Brookfield Renewable Partners by 37.1% in the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after acquiring an additional 3,474,522 shares during the period. 1832 Asset Management L.P. lifted its holdings in Brookfield Renewable Partners by 1.4% during the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock valued at $326,691,000 after purchasing an additional 173,402 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 4.4% in the first quarter. Principal Financial Group Inc. now owns 7,208,237 shares of the utilities provider’s stock worth $167,447,000 after purchasing an additional 302,274 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Brookfield Renewable Partners by 63.2% in the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock valued at $162,917,000 after purchasing an additional 2,394,853 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.