Brookfield Renewable Partners L.P. (NYSE:BEP) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $35.2143.

A number of analysts have weighed in on the company. Canadian Imperial Bank of Commerce assumed coverage on Brookfield Renewable Partners in a research note on Wednesday, March 4th. They issued an “outperformer” rating and a $37.00 price target on the stock. Morgan Stanley raised their price target on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Wall Street Zen upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the company a “neutral” rating in a research note on Monday, February 2nd. Finally, Barclays set a $28.00 price target on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research note on Friday, January 23rd.

Brookfield Renewable Partners Stock Down 0.5%

Shares of NYSE BEP opened at $33.43 on Tuesday. The stock has a market cap of $10.21 billion, a P/E ratio of -128.56 and a beta of 1.09. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. Brookfield Renewable Partners has a 12-month low of $19.29 and a 12-month high of $34.05. The business’s fifty day simple moving average is $31.17 and its 200-day simple moving average is $29.16.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.88. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. As a group, equities analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were paid a $0.392 dividend. This is a boost 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 4.7%. The ex-dividend date was Friday, February 27th. Brookfield Renewable Partners’s payout ratio is -603.85%.

Institutional Trading of Brookfield Renewable Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Liontrust Investment Partners LLP acquired a new stake in Brookfield Renewable Partners in the second quarter valued at $24,180,000. HB Wealth Management LLC purchased a new position in shares of Brookfield Renewable Partners during the third quarter worth about $979,000. Ovata Capital Management Ltd purchased a new position in shares of Brookfield Renewable Partners during the third quarter worth about $4,511,000. Principal Financial Group Inc. grew its holdings in shares of Brookfield Renewable Partners by 16.2% during the third quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after purchasing an additional 1,414,837 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Brookfield Renewable Partners by 246.1% during the third quarter. Citigroup Inc. now owns 169,621 shares of the utilities provider’s stock worth $4,373,000 after purchasing an additional 120,618 shares during 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.