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

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has received an average recommendation of "Buy" from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $31.78.

A number of research analysts have issued reports on BEP shares. CIBC lifted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an "outperformer" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reiterated an "outperform" rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. National Bankshares raised their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Friday, July 19th. StockNews.com downgraded shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Friday, August 2nd. Finally, 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.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP traded down $0.13 during trading hours on Friday, hitting $25.18. 247,684 shares of the stock were exchanged, compared to its average volume of 476,501. The company's fifty day simple moving average is $26.60 and its two-hundred day simple moving average is $25.92. The company has a market cap of $7.18 billion, a PE ratio of -30.69 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.52 and a current ratio of 0.73. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56.

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 for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. During the same period in the prior year, the business posted ($0.14) EPS. On average, sell-side analysts predict that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.64%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -173.17%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of hedge funds have recently made changes to their positions in BEP. Principal Financial Group Inc. increased its position in Brookfield Renewable Partners by 4.5% during the 3rd 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 period. CIBC Asset Management Inc increased its position in shares of Brookfield Renewable Partners by 0.6% during the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider's stock worth $171,010,000 after buying an additional 37,836 shares during the period. Bank of Montreal Can increased its position in shares of Brookfield Renewable Partners by 0.4% during the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider's stock worth $190,469,000 after buying an additional 26,189 shares during the period. CCLA Investment Management raised its stake in Brookfield Renewable Partners by 1.9% during the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider's stock worth $63,952,000 after buying an additional 47,734 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Brookfield Renewable Partners by 2.9% in the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider's stock valued at $58,805,000 after buying an additional 67,777 shares during the period. 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.