Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $34.86 Average Price Target from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $34.8571.

A number of brokerages recently issued reports on BEP. Morgan Stanley reissued an “overweight” rating and set a $38.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. Royal Bank Of Canada increased their target price on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. National Bankshares raised their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Desjardins raised Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $35.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 29th.

Brookfield Renewable Partners Stock Up 1.4%

Brookfield Renewable Partners stock opened at $28.06 on Thursday. The business’s 50-day moving average price is $27.89 and its 200 day moving average price is $27.19. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.91. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of -32.63 and a beta of 1.12. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $32.72.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.22. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. Brookfield Renewable Partners had a return on equity of 0.66% and a net margin of 3.52%. As a group, sell-side analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were paid a $0.373 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.49 dividend on an annualized basis and a yield of 5.3%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.26%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Large investors have recently added to or reduced their stakes in the stock. Hilltop National Bank raised its stake in Brookfield Renewable Partners by 37.6% in the third quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock valued at $47,000 after buying an additional 500 shares in the last quarter. Aviso Financial Inc. raised its position in shares of Brookfield Renewable Partners by 9.6% during the 3rd quarter. Aviso Financial Inc. now owns 8,338 shares of the utilities provider’s stock worth $215,000 after acquiring an additional 733 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Brookfield Renewable Partners by 7.8% during the third quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock worth $264,000 after purchasing an additional 742 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Brookfield Renewable Partners by 2.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 29,600 shares of the utilities provider’s stock worth $763,000 after purchasing an additional 750 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in Brookfield Renewable Partners by 5.3% in the third quarter. Apollon Wealth Management LLC now owns 17,060 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 858 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.