Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Has Consensus Target Price of $38.14 According to Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $38.14.

Several analysts recently commented on the stock. Scotiabank reissued an “outperform” rating and set a $42.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Friday, May 29th. UBS Group restated a “buy” rating and issued a $40.00 price target (up from $39.00) on shares of Brookfield Renewable Partners in a research report on Friday, June 12th. Barclays set a $30.00 price target on Brookfield Renewable Partners and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday. Finally, Zacks Research raised Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of Brookfield Renewable Partners by 413.2% in the first quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider’s stock worth $31,767,000 after buying an additional 783,620 shares during the period. Groupe la Francaise raised its holdings in shares of Brookfield Renewable Partners by 194.5% during the first quarter. Groupe la Francaise now owns 159,894 shares of the utilities provider’s stock valued at $5,214,000 after acquiring an additional 105,599 shares during the period. Bank of Nova Scotia lifted its position in shares of Brookfield Renewable Partners by 11.0% in the 1st quarter. Bank of Nova Scotia now owns 1,148,128 shares of the utilities provider’s stock valued at $37,444,000 after acquiring an additional 114,127 shares in the last quarter. State of Wisconsin Investment Board lifted its position in shares of 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 acquiring an additional 2,732,542 shares in the last quarter. Finally, Cibc World Market Inc. lifted its position in shares of Brookfield Renewable Partners by 4.5% in the 4th quarter. Cibc World Market Inc. now owns 2,989,622 shares of the utilities provider’s stock valued at $80,809,000 after acquiring an additional 127,450 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $28.25 on Tuesday. 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’s 50-day moving average price is $31.94 and its two-hundred day moving average price is $33.20. Brookfield Renewable Partners has a 52 week low of $25.19 and a 52 week high of $38.12. The stock has a market cap of $8.48 billion, a PE ratio of -61.40 and a beta of 1.10.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.56 billion. Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. As a group, sell-side analysts anticipate that Brookfield Renewable Partners will post -1.87 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

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 issued a dividend of $0.3920 per share. This represents a $1.57 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio is currently -341.30%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a renewable power and decarbonization solutions company that develops, owns, and operates clean energy assets. Its portfolio includes hydroelectric, wind, utility-scale solar, distributed energy, and energy storage facilities.

The company also provides sustainable solutions to businesses and other organizations, including renewable power, renewable natural gas, carbon capture, and other services intended to support emissions reduction and energy transition goals.