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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $31.78.

Several research analysts have commented on BEP shares. National Bankshares increased their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th. CIBC increased their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd.

Brookfield Renewable Partners Trading Down 0.6 %

Shares of BEP stock opened at $25.17 on Friday. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.52 and a current ratio of 0.73. The firm has a market capitalization of $7.18 billion, a PE ratio of -30.69 and a beta of 0.95. The stock has a fifty day simple moving average of $26.58 and a two-hundred day simple moving average of $25.89.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $843.18 million. During the same quarter in the previous year, the company posted ($0.14) EPS. On average, analysts predict that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.64%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is currently -173.17%.

Institutional Trading of Brookfield Renewable Partners

Institutional investors have recently added to or reduced their stakes in the company. Intact Investment Management Inc. bought a new stake in Brookfield Renewable Partners in the third quarter worth about $42,331,000. Price T Rowe Associates Inc. MD lifted its stake in Brookfield Renewable Partners by 103.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after purchasing an additional 595,335 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Brookfield Renewable Partners by 2,229.4% in the first quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider’s stock worth $593,000 after purchasing an additional 24,412 shares during the last quarter. TD Asset Management Inc lifted its stake in Brookfield Renewable Partners by 2.9% in the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after purchasing an additional 67,777 shares during the last quarter. Finally, Triasima Portfolio Management inc. purchased a new position in shares of Brookfield Renewable Partners during the second quarter worth approximately $16,936,000. Institutional investors own 63.16% of the company’s stock.

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.