Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $34.79 Average PT from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $34.7857.

BEP has been the topic of several research reports. Desjardins raised shares of Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. National Bank Financial raised their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. TD Securities boosted their target price on Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Mizuho set a $31.00 target price on Brookfield Renewable Partners and gave the stock a “neutral” rating in a research note on Monday, February 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Kelleher Financial Advisors bought a new position in shares of Brookfield Renewable Partners in the third quarter worth approximately $26,000. Russell Investments Group Ltd. purchased a new position in shares of Brookfield Renewable Partners in the second quarter valued at about $34,000. Root Financial Partners LLC bought a new position in shares of Brookfield Renewable Partners in the third quarter worth about $46,000. Hilltop National Bank grew its position in shares of Brookfield Renewable Partners by 37.6% during the third quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 500 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth about $50,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $31.33 on Monday. The company has a market capitalization of $8.89 billion, a P/E ratio of -120.48 and a beta of 1.14. The company’s 50-day moving average is $28.24 and its 200 day moving average is $27.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.58 and a current ratio of 0.19. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $32.72.

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 for the quarter, topping the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. On average, equities research analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.392 per share. The ex-dividend date is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 5.0%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -600.00%.

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.