Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $34.8571.

A number of research analysts recently commented on BEP shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, December 29th. Raymond James Financial restated an “outperform” rating and set a $35.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $38.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th. Scotiabank reissued an “outperform” rating and set a $35.00 price objective (up previously from $30.00) on shares of Brookfield Renewable Partners in a research report on Thursday, November 6th. Finally, BMO Capital Markets set a $36.00 target price on Brookfield Renewable Partners and gave the stock an “outperform” rating in a research report on Wednesday, October 29th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BEP. TABR Capital Management LLC bought a new position in shares of Brookfield Renewable Partners during the 4th quarter valued at $544,000. Triumph Capital Management bought a new position in Brookfield Renewable Partners during the third quarter valued at about $55,000. Allworth Financial LP lifted its position in shares of Brookfield Renewable Partners by 49.0% in the third quarter. Allworth Financial LP now owns 7,895 shares of the utilities provider’s stock worth $204,000 after buying an additional 2,595 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $19,944,000. Finally, Ovata Capital Management Ltd bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth about $4,511,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $28.20 on Thursday. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of -32.79 and a beta of 1.12. Brookfield Renewable Partners has a 1-year low of $19.29 and a 1-year high of $32.72. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.91. The stock’s fifty day simple moving average is $27.94 and its 200-day simple moving average is $27.17.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.22. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.61 billion. Brookfield Renewable Partners had a return on equity of 0.66% and a net margin of 3.52%. On average, sell-side analysts predict that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.26%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.