Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Target Price at $30.50

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has earned an average recommendation of "Buy" from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $30.50.

Several equities analysts recently commented on the stock. Scotiabank upped their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. StockNews.com downgraded shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday. Wells Fargo & Company lowered their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. CIBC reduced their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd.

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Brookfield Renewable Partners Stock Down 2.2 %

Shares of BEP stock traded down $0.51 on Monday, hitting $22.86. 666,674 shares of the stock were exchanged, compared to its average volume of 871,391. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.52 billion, a P/E ratio of -25.68 and a beta of 0.95. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The business has a 50-day moving average of $22.25 and a 200 day moving average of $24.49.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the prior year, the firm posted $0.01 earnings per share. Equities analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.373 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 6.53%. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.36. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -167.42%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Creative Planning acquired a new position in Brookfield Renewable Partners in the 3rd quarter worth about $206,000. Private Advisor Group LLC boosted its position in Brookfield Renewable Partners by 47.8% during the 3rd quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider's stock worth $917,000 after buying an additional 10,521 shares during the period. International Assets Investment Management LLC bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $4,880,000. Arkadios Wealth Advisors bought a new position in shares of Brookfield Renewable Partners during the third quarter valued at $272,000. Finally, SFE Investment Counsel grew its stake in shares of Brookfield Renewable Partners by 3.4% in the third quarter. SFE Investment Counsel now owns 53,708 shares of the utilities provider's stock worth $1,513,000 after purchasing an additional 1,781 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.