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

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 currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $38.1429.

A number of equities analysts have recently commented on BEP shares. Scotiabank reaffirmed an “outperform” rating and set a $42.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a report on Friday, May 29th. National Bank Financial lowered their target price on shares of Brookfield Renewable Partners from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Barclays set a $30.00 price target on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. UBS Group reaffirmed a “buy” rating and set a $40.00 price objective (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $36.00 price objective on shares of Brookfield Renewable Partners in a research note on Tuesday, July 21st.

Brookfield Renewable Partners Trading Down 0.0%

Brookfield Renewable Partners stock opened at $32.48 on Friday. The business has a 50 day moving average price of $33.34 and a two-hundred day moving average price of $33.34. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.87. Brookfield Renewable Partners has a 12 month low of $24.48 and a 12 month high of $38.12. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of -70.62 and a beta of 1.11.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%.The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.56 billion. As a group, equities analysts forecast that Brookfield Renewable Partners will post -1.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -341.30%.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Brookfield Renewable Partners by 57.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider’s stock valued at $20,380,000 after purchasing an additional 333,789 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners in the 2nd quarter worth about $34,000. Cresset Asset Management LLC increased its position in shares of Brookfield Renewable Partners by 42.8% during the 2nd quarter. Cresset Asset Management LLC now owns 20,031 shares of the utilities provider’s stock worth $511,000 after purchasing an additional 6,000 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth about $648,000. Finally, Ameriprise Financial Inc. increased its position in shares of Brookfield Renewable Partners by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,490,603 shares of the utilities provider’s stock worth $38,025,000 after purchasing an additional 62,774 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors.

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.