Brookfield Renewable Partners (NYSE:BEP) Reaches New 12-Month High – Here’s What Happened

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) shares hit a new 52-week high on Monday . The stock traded as high as $34.05 and last traded at $33.6050, with a volume of 729791 shares changing hands. The stock had previously closed at $33.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BEP. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. Mizuho set a $31.00 price objective on Brookfield Renewable Partners and gave the stock a “neutral” rating in a report on Monday, February 2nd. National Bank Financial boosted their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Barclays set a $28.00 price objective on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, Wall Street Zen raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.21.

Brookfield Renewable Partners Stock Down 1.7%

The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market cap of $10.03 billion, a PE ratio of -126.37 and a beta of 1.09. The company has a fifty day moving average price of $31.25 and a 200 day moving average price of $29.21.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share (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 firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. As a group, analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced 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 an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Friday, February 27th. Brookfield Renewable Partners’s payout ratio is currently -603.85%.

Institutional Trading of Brookfield Renewable Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kelleher Financial Advisors purchased a new stake in Brookfield Renewable Partners in the third quarter worth approximately $26,000. Russell Investments Group Ltd. purchased a new stake in Brookfield Renewable Partners in the second quarter worth approximately $34,000. Root Financial Partners LLC purchased a new stake in Brookfield Renewable Partners in the third quarter worth approximately $46,000. Hilltop National Bank boosted 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 worth $47,000 after buying an additional 500 shares in the last quarter. Finally, Triumph Capital Management purchased a new stake in Brookfield Renewable Partners in the third quarter worth approximately $55,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.