Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.78 Average Target Price from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP have earned an average rating of "Buy" from the eight research firms that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $31.78.

A number of analysts recently issued reports on BEP shares. UBS Group upgraded Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and boosted their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a "neutral" rating to an "overweight" rating and set a $30.00 target price for the company in a report on Thursday, December 12th. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. National Bankshares decreased their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Finally, CIBC increased their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an "outperformer" rating in a report on Tuesday, October 22nd.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of BEP. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at $42,331,000. Triasima Portfolio Management inc. purchased a new stake in Brookfield Renewable Partners in the second quarter valued at about $16,936,000. Principal Financial Group Inc. grew its stake in shares of Brookfield Renewable Partners by 4.5% during the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider's stock worth $214,328,000 after acquiring an additional 330,648 shares during the last quarter. Mirabella Financial Services LLP raised its position in shares of Brookfield Renewable Partners by 145.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider's stock valued at $13,153,000 after purchasing an additional 276,374 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $6,191,000. Hedge funds and other institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Trading Up 0.4 %

Brookfield Renewable Partners stock traded up $0.09 during mid-day trading on Friday, hitting $23.20. The company's stock had a trading volume of 492,055 shares, compared to its average volume of 479,078. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56. The stock has a market cap of $6.61 billion, a PE ratio of -28.29 and a beta of 0.93. The company has a 50 day moving average of $24.70 and a 200-day moving average of $25.28. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned ($0.14) EPS. On average, research analysts anticipate that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable Partners's payout ratio is currently -173.17%.

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.