Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) PT at $37.93

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have received an average rating of “Moderate Buy” from the sixteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $37.7857.

Several research analysts recently issued reports on BEP shares. UBS Group reissued a “buy” rating and set a $40.00 target price (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th. Zacks Research lowered shares of Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Wall Street Zen downgraded Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Barclays set a $30.00 price objective on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Wednesday, June 24th.

Institutional Trading of Brookfield Renewable Partners

Several large investors have recently made changes to their positions in BEP. Envestnet Asset Management Inc. increased its stake in shares of Brookfield Renewable Partners by 7.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock worth $264,000 after acquiring an additional 742 shares during the last quarter. Allworth Financial LP increased its position in shares of Brookfield Renewable Partners by 9.5% during the 4th quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock worth $233,000 after purchasing an additional 750 shares during the last quarter. Tacita Capital Inc raised its stake in shares of Brookfield Renewable Partners by 0.7% in the 4th quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock valued at $3,220,000 after acquiring an additional 770 shares during the period. Kelleher Financial Advisors purchased a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $26,000. Finally, Osaic Holdings Inc. boosted its position in shares of Brookfield Renewable Partners by 5.4% during the second quarter. Osaic Holdings Inc. now owns 23,468 shares of the utilities provider’s stock worth $599,000 after buying an additional 1,212 shares during the period. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $33.17 on Monday. Brookfield Renewable Partners has a twelve month low of $24.13 and a twelve month high of $38.12. The company’s 50 day moving average is $33.97 and its 200 day moving average is $32.91. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87. The company has a market cap of $9.96 billion, a PE ratio of -72.12 and a beta of 1.11.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -1.55 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.392 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%. Brookfield Renewable Partners’s payout ratio is currently -341.30%.

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.