Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Consensus Rating of "Buy" from Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has earned a consensus recommendation of "Buy" from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $31.78.

Several brokerages have commented on BEP. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC lifted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an "outperformer" rating in a report on Tuesday, October 22nd. StockNews.com upgraded Brookfield Renewable Partners from a "sell" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. cut their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, October 17th. Finally, UBS Group raised Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and increased their target price for the stock from $24.00 to $31.00 in a research note on Monday, September 30th.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $28,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at approximately $178,000. Barclays PLC grew its stake in shares of Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider's stock valued at $199,000 after buying an additional 2,036 shares in the last quarter. Finally, Creative Planning acquired a new position in Brookfield Renewable Partners during the third quarter worth $206,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Up 1.3 %

Shares of NYSE:BEP traded up $0.31 during midday trading on Wednesday, hitting $24.08. The company had a trading volume of 1,025,651 shares, compared to its average volume of 486,437. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The firm has a fifty day simple moving average of $26.22 and a 200 day simple moving average of $25.76. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of -29.00 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter last year, the business posted ($0.14) EPS. On average, analysts predict that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners's dividend payout ratio is presently -173.17%.

Brookfield Renewable Partners Company Profile

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.