Brookfield Renewable Partners (NYSE:BEP) Sets New 12-Month High – Time to Buy?

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) hit a new 52-week high during trading on Tuesday . The company traded as high as $32.78 and last traded at $32.5340, with a volume of 272333 shares trading hands. The stock had previously closed at $31.77.

Analyst Ratings Changes

BEP has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $38.00 target price (up previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th. Royal Bank Of Canada boosted their price objective on Brookfield Renewable Partners from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. UBS Group restated a “buy” rating and issued a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Barclays set a $28.00 price target on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Mizuho set a $31.00 price objective on Brookfield Renewable Partners and gave the company a “neutral” rating in a report on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.79.

Brookfield Renewable Partners Stock Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 0.19 and a quick ratio of 0.58. The firm has a market cap of $8.93 billion, a PE ratio of -121.04 and a beta of 1.14. The company has a 50 day simple moving average of $28.64 and a 200-day simple moving average of $27.69.

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

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 5.0%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -573.08%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kelleher Financial Advisors bought a new stake in Brookfield Renewable Partners in the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new stake in Brookfield Renewable Partners in the second quarter worth $34,000. Root Financial Partners LLC bought a new position in Brookfield Renewable Partners during the third quarter valued at $46,000. Hilltop National Bank grew its holdings in Brookfield Renewable Partners by 37.6% during the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock valued at $47,000 after purchasing 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 about $55,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.