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 received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $30.50.

BEP has been the topic of a number of recent analyst reports. Raymond James decreased their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $28.00 price target (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th.

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP opened at $25.78 on Tuesday. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $32.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. The firm’s 50 day simple moving average is $22.43 and its 200-day simple moving average is $23.92. The firm has a market cap of $7.37 billion, a PE ratio of -80.56 and a beta of 0.83.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm posted ($0.16) EPS. Brookfield Renewable Partners’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts predict that Brookfield Renewable Partners will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors and hedge funds have recently bought and sold shares of BEP. Royal Bank of Canada lifted its stake in shares of Brookfield Renewable Partners by 0.9% in the 3rd quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock valued at $288,107,000 after purchasing an additional 117,246 shares during the last quarter. FIL Ltd raised its position in shares of Brookfield Renewable Partners by 37.1% in the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after purchasing an additional 3,474,522 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Brookfield Renewable Partners by 1.4% during the 4th quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after buying an additional 173,402 shares during the period. Principal Financial Group Inc. grew its stake in Brookfield Renewable Partners by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 7,208,237 shares of the utilities provider’s stock valued at $167,447,000 after buying an additional 302,274 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Brookfield Renewable Partners by 63.2% in the 4th quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock worth $162,917,000 after acquiring an additional 2,394,853 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.