Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Target Price at $35.21

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.2143.

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Mizuho set a $31.00 price target on shares of Brookfield Renewable Partners and gave the stock a “neutral” rating in a research report on Monday, February 2nd. National Bank Financial raised their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Barclays set a $28.00 target price on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research note on Friday, January 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BROOKFIELD Corp ON grew its stake in Brookfield Renewable Partners by 9.4% during the 4th quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock worth $2,192,842,000 after purchasing an additional 6,967,670 shares in the last quarter. State of Wisconsin Investment Board raised its position in Brookfield Renewable Partners by 128.0% in the 4th quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock valued at $131,265,000 after purchasing an additional 2,732,542 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Brookfield Renewable Partners by 20.3% in the 4th quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock valued at $226,859,000 after buying an additional 1,415,989 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Brookfield Renewable Partners by 16.2% in the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock valued at $261,189,000 after buying an additional 1,414,837 shares during the period. Finally, Morgan Stanley grew its position in shares of Brookfield Renewable Partners by 41.9% during the fourth quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock worth $108,663,000 after buying an additional 1,189,130 shares in the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Down 0.1%

BEP opened at $33.56 on Tuesday. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $34.05. The business has a fifty day simple moving average of $31.07 and a 200-day simple moving average of $29.08. The firm has a market cap of $10.25 billion, a P/E ratio of -129.06 and a beta of 1.09. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%.The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, equities analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were given a dividend of $0.392 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is currently -603.85%.

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.