Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $37.21

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $37.2143.

A number of research analysts have commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Friday, March 27th. National Bank Financial boosted their target price on Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $40.00 target price (up from $37.00) on shares of Brookfield Renewable Partners in a research note on Monday, April 20th. TD boosted their target price on Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Morgan Stanley boosted their target price 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.

Brookfield Renewable Partners Stock Up 3.9%

NYSE:BEP opened at $36.91 on Wednesday. The firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of -119.06 and a beta of 1.06. Brookfield Renewable Partners has a 1-year low of $23.52 and a 1-year high of $37.09. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The business’s fifty day moving average price is $33.52 and its 200 day moving average price is $30.66.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -1.38 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a $0.392 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.2%. Brookfield Renewable Partners’s payout ratio is -503.23%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Kelleher Financial Advisors bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth about $26,000. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth about $34,000. CENTRAL TRUST Co bought a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth about $55,000. Root Financial Partners LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth about $46,000. Finally, Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners during the 3rd 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.