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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given an average rating of “Buy” by the nine research firms that are covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $32.44.

BEP has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research note on Thursday, December 12th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC lifted their target price on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, National Bankshares decreased their price target 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 Trading Down 4.1 %

BEP opened at $22.64 on Friday. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The firm has a market capitalization of $6.45 billion, a PE ratio of -27.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50-day moving average is $24.46 and its 200 day moving average is $25.23.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations 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 last year, the company earned ($0.14) earnings per share. As a group, research analysts predict that Brookfield Renewable Partners will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 6.27%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently bought and sold shares of the company. Intact Investment Management Inc. purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $42,331,000. MAI Capital Management raised its stake in Brookfield Renewable Partners by 294.2% in the 3rd quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock valued at $2,443,000 after acquiring an additional 64,695 shares during the period. Mirabella Financial Services LLP lifted its holdings in Brookfield Renewable Partners by 145.2% during the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after purchasing an additional 276,374 shares during the last quarter. Principal Financial Group Inc. boosted its position in Brookfield Renewable Partners by 4.5% during the third 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 period. Finally, TD Asset Management Inc boosted its position in Brookfield Renewable Partners by 2.9% during the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after purchasing an additional 67,777 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

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.