Brookfield Renewable Partners L.P. (NYSE:BEP) Given Consensus Rating of “Buy” by Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given an average rating of “Buy” by the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $30.50.

BEP has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Finally, CIBC cut their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd.

Brookfield Renewable Partners Trading Up 1.2 %

NYSE BEP opened at $23.62 on Friday. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of -26.54 and a beta of 1.02. The company’s 50-day simple moving average is $22.13 and its two-hundred day simple moving average is $24.30.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter last year, the business earned $0.01 EPS. Equities analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s payout ratio is presently -167.42%.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Brookfield Renewable Partners by 1.3% during the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider’s stock valued at $375,248,000 after purchasing an additional 211,467 shares during the last quarter. CIBC Asset Management Inc boosted its position in Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after buying an additional 1,628,524 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield Renewable Partners by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after buying an additional 246,163 shares during the period. Bank of Montreal Can raised its position in Brookfield Renewable Partners by 4.7% during the 4th quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock worth $160,585,000 after buying an additional 315,272 shares during the last quarter. Finally, Cibc World Market Inc. lifted its stake in Brookfield Renewable Partners by 4.4% during the 4th quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock valued at $62,647,000 after acquiring an additional 116,593 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.

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.