Brookfield Renewable Partners L.P. (NYSE:BEP) Given Average Rating of "Buy" by Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP have been given an average rating of "Buy" by the nine research firms that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $30.50.

A number of equities analysts have recently weighed in on the stock. National Bankshares lowered their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company lowered their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reiterated an "outperform" rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Finally, CIBC reduced their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating for the company in a report on Monday, February 3rd.

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Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc lifted its stake in shares of Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider's stock valued at $192,605,000 after buying an additional 1,628,524 shares during the period. AGF Management Ltd. lifted its stake in shares of Brookfield Renewable Partners by 3,234.7% during the 4th quarter. AGF Management Ltd. now owns 1,588,410 shares of the utilities provider's stock worth $36,681,000 after purchasing an additional 1,540,777 shares during the period. National Bank of Canada FI boosted its holdings in shares of Brookfield Renewable Partners by 102.4% during the fourth quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider's stock worth $48,023,000 after purchasing an additional 1,065,590 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Brookfield Renewable Partners by 31.8% in the fourth quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider's stock valued at $53,263,000 after purchasing an additional 564,515 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Brookfield Renewable Partners by 4.5% in the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider's stock valued at $214,328,000 after purchasing an additional 330,648 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock traded down $0.19 on Friday, reaching $23.38. 386,021 shares of the stock were exchanged, compared to its average volume of 555,157. 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 $6.66 billion, a PE ratio of -26.27 and a beta of 1.02. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The business has a fifty day moving average price of $22.18 and a two-hundred day moving average price of $24.28.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates 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 earned $0.01 EPS. As a group, research analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.373 dividend. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 6.38%. Brookfield Renewable Partners's payout ratio is presently -167.42%.

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.