Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $31.90 Average PT from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has been given a consensus rating of "Moderate Buy" by the ten brokerages that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $31.90.

BEP has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday. StockNews.com cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Friday, August 2nd. Scotiabank increased their target price on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a "sector outperform" rating in a research report on Wednesday, June 12th. National Bankshares increased 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. Finally, 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 Monday, August 5th.

Brookfield Renewable Partners Trading Up 1.2 %

NYSE:BEP opened at $27.97 on Friday. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $28.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $7.97 billion, a P/E ratio of -60.80 and a beta of 0.93. The firm has a 50-day simple moving average of $24.91 and a 200-day simple moving average of $24.78.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the company earned ($0.10) EPS. The company's revenue was up 23.0% on a year-over-year basis. Equities analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.08%. Brookfield Renewable Partners's payout ratio is currently -308.69%.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in BEP. Steward Partners Investment Advisory LLC grew its position in Brookfield Renewable Partners by 8.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider's stock valued at $248,000 after buying an additional 750 shares during the period. Clearbridge Investments LLC grew its position in Brookfield Renewable Partners by 0.9% during the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider's stock valued at $2,017,000 after buying an additional 768 shares during the period. Tidal Investments LLC lifted its holdings in Brookfield Renewable Partners by 2.5% during the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider's stock valued at $866,000 after purchasing an additional 894 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Brookfield Renewable Partners by 17.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider's stock valued at $156,000 after purchasing an additional 900 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Brookfield Renewable Partners by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 82,262 shares of the utilities provider's stock valued at $2,162,000 after purchasing an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

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.