Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) PT at $38.00

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $38.00.

A number of research firms recently weighed in on BEP. Wall Street Zen cut Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. National Bank Financial increased their target price on Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Morgan Stanley raised 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. Scotiabank reaffirmed an “outperform” rating and issued a $42.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Friday, May 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th.

Brookfield Renewable Partners Price Performance

NYSE:BEP opened at $35.31 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The firm has a market cap of $10.65 billion, a PE ratio of -113.88 and a beta of 1.09. Brookfield Renewable Partners has a 12 month low of $24.13 and a 12 month high of $38.12. The company’s 50-day moving average price is $34.86 and its two-hundred day moving average price is $31.48.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. On average, equities analysts anticipate that Brookfield Renewable Partners will post -1.53 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be given a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, May 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -506.45%.

Institutional Trading of Brookfield Renewable Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kelleher Financial Advisors acquired a new position in Brookfield Renewable Partners during the 3rd quarter worth $26,000. Russell Investments Group Ltd. acquired a new stake in shares of Brookfield Renewable Partners in the 2nd quarter valued at $34,000. Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners during the third quarter worth $55,000. CENTRAL TRUST Co acquired a new position in shares of Brookfield Renewable Partners during the first quarter valued at $55,000. Finally, Global Retirement Partners LLC lifted its stake 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 valued at $60,000 after acquiring an additional 1,633 shares during the period. Institutional investors and hedge funds 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.