Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $34.93 Average Price Target from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received an average rating of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $34.9286.

BEP has been the subject of several research reports. Canadian Imperial Bank of Commerce began coverage on shares of Brookfield Renewable Partners in a report on Wednesday, March 4th. They set an “outperformer” rating and a $37.00 price objective for the company. Desjardins upgraded shares of Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, December 29th. UBS Group reiterated a “buy” rating and set a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Finally, Barclays set a $28.00 price target on Brookfield Renewable Partners and gave the company an “equal weight” rating in a report on Friday, January 23rd.

Brookfield Renewable Partners Trading Up 2.2%

Brookfield Renewable Partners stock opened at $30.73 on Friday. Brookfield Renewable Partners has a one year low of $19.29 and a one year high of $32.78. The business’s fifty day moving average is $29.67 and its 200 day moving average is $28.29. The stock has a market capitalization of $8.72 billion, a PE ratio of -118.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.88. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. On average, sell-side analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a $0.392 dividend. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is currently -603.85%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of large investors have recently made changes to their positions in BEP. Kelleher Financial Advisors bought a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new stake in Brookfield Renewable Partners during the second quarter valued at approximately $34,000. Root Financial Partners LLC bought a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $46,000. Hilltop National Bank increased its holdings in Brookfield Renewable Partners by 37.6% during 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 during the last quarter. Finally, Triumph Capital Management bought a new position in Brookfield Renewable Partners in the third quarter worth approximately $55,000. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Company Profile

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.