Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $31.90

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $32.50.

BEP has been the subject of several analyst reports. National Bankshares boosted their price target 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. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Scotiabank boosted their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 12th. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $31.00 in a research note on Monday.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FIL Ltd lifted its position in Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after purchasing an additional 3,474,522 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Brookfield Renewable Partners by 1.4% during the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after buying an additional 173,402 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 0.9% during the second quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock worth $180,203,000 after buying an additional 66,794 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Brookfield Renewable Partners by 0.6% in the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after buying an additional 37,836 shares during the period. Finally, CCLA Investment Management boosted its stake in Brookfield Renewable Partners by 1.9% in the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after acquiring an additional 47,734 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock opened at $26.90 on Friday. The business has a 50 day simple moving average of $25.25 and a 200 day simple moving average of $24.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $7.67 billion, a PE ratio of -58.48 and a beta of 0.94. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business posted ($0.10) earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -308.70%.

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.