Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.78 Consensus PT from Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $31.78.

Several analysts have weighed in on BEP shares. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. CIBC upped their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock valued at $880,000 after purchasing an additional 403 shares during the period. GAMMA Investing LLC grew its position in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the period. HighTower Advisors LLC raised its position in shares of Brookfield Renewable Partners by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after purchasing an additional 749 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Brookfield Renewable Partners by 0.9% in the 1st quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock valued at $2,017,000 after buying an additional 768 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Brookfield Renewable Partners by 2.5% in the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 894 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Down 1.3 %

Brookfield Renewable Partners stock opened at $24.98 on Friday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The business has a fifty day moving average price of $26.63 and a 200-day moving average price of $25.97. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of -30.46 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. During the same period in the prior year, the business posted ($0.14) EPS. Equities research analysts forecast that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.