Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Average Rating of “Buy” from Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given a consensus recommendation of “Buy” by the nine research firms that are currently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $31.78.

BEP has been the subject of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC increased their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, January 9th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. Scotiabank dropped their price target on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, National Bankshares reduced their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th.

Brookfield Renewable Partners Stock Down 0.6 %

Shares of NYSE:BEP opened at $20.63 on Thursday. The company’s fifty day moving average is $23.28 and its two-hundred day moving average is $24.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -25.16 and a beta of 0.95.

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

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BEP. Stifel Financial Corp raised its holdings in Brookfield Renewable Partners by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after buying an additional 403 shares during the period. GAMMA Investing LLC lifted its position in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares in the last quarter. HighTower Advisors LLC boosted its stake in Brookfield Renewable Partners by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after purchasing an additional 749 shares during the period. Apollon Wealth Management LLC grew its position in Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $28,000. 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.