Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Average Recommendation of “Moderate Buy” from Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $37.9286.

Several brokerages have commented on BEP. Scotiabank reiterated an “outperform” rating and issued a $42.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a report on Friday, May 29th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $41.00 price target on shares of Brookfield Renewable Partners in a report on Friday, July 17th. Zacks Research cut shares of Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Brookfield Renewable Partners in a research note on Tuesday, July 21st. Finally, TD lifted their target price on Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, May 4th.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $32.89 on Monday. The stock has a market cap of $9.87 billion, a PE ratio of -71.50 and a beta of 1.11. The stock has a 50-day moving average of $34.33 and a 200-day moving average of $32.74. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Renewable Partners has a one year low of $24.13 and a one year high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.85% and a net margin of 4.50%. As a group, sell-side analysts expect that Brookfield Renewable Partners will post -1.55 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.392 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.8%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -506.45%.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently bought and sold shares of BEP. Kelleher Financial Advisors acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. acquired a new position in shares of Brookfield Renewable Partners in the second quarter valued at approximately $34,000. CENTRAL TRUST Co acquired a new position in shares of Brookfield Renewable Partners in the first quarter valued at approximately $55,000. Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners during the third quarter worth $55,000. Finally, Global Retirement Partners LLC increased its position in shares of Brookfield Renewable Partners by 284.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,633 shares in the last quarter. 63.16% of the stock is owned by institutional investors.

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.