Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Has Consensus Target Price of $37.43

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $37.43.

Several analysts have commented on BEP shares. 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. UBS Group reiterated a “buy” rating and issued a $34.00 target price (down from $40.00) on shares of Brookfield Renewable Partners in a research note on Thursday, October 1st. National Bank Financial set a $38.00 target price on Brookfield Renewable Partners and gave the company an “outperform” rating in a research note on Thursday, October 1st. Zacks Research raised Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Finally, Morgan Stanley cut their price target on Brookfield Renewable Partners from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Tuesday.

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors have recently bought and sold shares of the company. Bank of Nova Scotia raised its position in Brookfield Renewable Partners by 11.0% during the 1st quarter. Bank of Nova Scotia now owns 1,148,128 shares of the utilities provider’s stock worth $37,444,000 after buying an additional 114,127 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Brookfield Renewable Partners by 1.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,072,131 shares of the utilities provider’s stock worth $36,939,000 after acquiring an additional 19,957 shares during the period. Oak Grove Capital LLC boosted its holdings in shares of Brookfield Renewable Partners by 71.8% in the third quarter. Oak Grove Capital LLC now owns 1,202,100 shares of the utilities provider’s stock valued at $33,827,000 after acquiring an additional 502,300 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Brookfield Renewable Partners by 413.2% in the first quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider’s stock valued at $31,767,000 after acquiring an additional 783,620 shares in the last quarter. Finally, Purpose Unlimited Inc. purchased a new stake in shares of Brookfield Renewable Partners in the fourth quarter valued at about $12,576,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP traded down $0.23 on Friday, reaching $28.42. The company’s stock had a trading volume of 801,991 shares, compared to its average volume of 1,114,783. Brookfield Renewable Partners has a 52-week low of $26.30 and a 52-week high of $38.12. The stock has a market capitalization of $8.61 billion, a P/E ratio of -61.78 and a beta of 1.10. The stock’s 50-day moving average is $30.67 and its two-hundred day moving average is $32.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.80 and a quick ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. As a group, sell-side analysts forecast that Brookfield Renewable Partners will post -1.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were given a $0.3920 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -341.30%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a renewable power and energy transition company that owns and operates a diversified portfolio of clean energy assets. Its main activities include generating electricity from hydroelectric, wind and solar facilities, as well as providing energy storage and other decarbonization solutions.

The company serves electricity markets and commercial, industrial and utility customers across North America, South America, Europe and the Asia-Pacific region. In addition to operating renewable power facilities, Brookfield Renewable develops new projects and invests in businesses supporting the transition to lower-carbon energy, including distributed energy and sustainable solutions.

Brookfield Renewable traces its origins to Brookfield Asset Management’s renewable power operations and became publicly listed as Brookfield Renewable Energy Partners in 2011.