Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $34.86

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $34.8571.

A number of equities research analysts have commented on the company. Desjardins upgraded Brookfield Renewable Partners to a “hold” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Mizuho set a $33.00 target price on shares of Brookfield Renewable Partners in a research report on Friday, November 7th. BMO Capital Markets set a $36.00 price target on shares of Brookfield Renewable Partners and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, National Bankshares boosted their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th.

Institutional Trading of Brookfield Renewable Partners

A number of large investors have recently bought and sold shares of BEP. Kelleher Financial Advisors acquired a new stake in Brookfield Renewable Partners during the third quarter worth approximately $26,000. Hilltop National Bank bought a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth approximately $34,000. Russell Investments Group Ltd. bought a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth approximately $34,000. Root Financial Partners LLC acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $46,000. Finally, Activest Wealth Management acquired a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth approximately $50,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Down 0.2%

Shares of NYSE BEP opened at $27.38 on Friday. The firm has a 50 day moving average price of $28.77 and a two-hundred day moving average price of $26.95. The stock has a market cap of $8.38 billion, a P/E ratio of -31.84 and a beta of 1.11. Brookfield Renewable Partners has a 52-week low of $19.29 and a 52-week high of $32.72. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.58 and a current ratio of 0.58.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.22. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Brookfield Renewable Partners had a net margin of 3.52% and a return on equity of 0.66%. As a group, equities analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be issued a $0.373 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.49 annualized dividend and a yield of 5.4%. Brookfield Renewable Partners’s payout ratio 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.