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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $29.13.

Several equities research analysts have recently issued reports on the company. CIBC lowered their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a research report on Monday, May 5th. National Bankshares cut their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Barclays assumed coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price target for the company. Wells Fargo & Company cut their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, Scotiabank boosted their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th.

Institutional Trading of Brookfield Renewable Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Capital Management LLC grew its position in Brookfield Renewable Partners by 44.6% in the first quarter. Advisors Capital Management LLC now owns 393,847 shares of the utilities provider’s stock valued at $8,728,000 after acquiring an additional 121,462 shares during the period. SCS Capital Management LLC bought a new stake in Brookfield Renewable Partners in the first quarter valued at $15,939,000. Goldman Sachs Group Inc. grew its position in Brookfield Renewable Partners by 57.0% in the first quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider’s stock valued at $20,380,000 after acquiring an additional 333,789 shares during the period. Royal Bank of Canada grew its position in Brookfield Renewable Partners by 2.3% in the first quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider’s stock valued at $373,164,000 after acquiring an additional 374,087 shares during the period. Finally, Northern Right Capital Management L.P. bought a new stake in Brookfield Renewable Partners in the first quarter valued at $870,000. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $24.63 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $22.64 and its 200 day simple moving average is $22.88. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The stock has a market cap of $6.99 billion, a P/E ratio of -27.67 and a beta of 0.98.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). The company had revenue of $907.00 million during the quarter, compared to analysts’ expectations of $1.73 billion. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. Equities analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners’s dividend payout ratio is presently -147.52%.

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.