Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $34.79

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $34.7857.

BEP has been the topic of a number of recent research reports. National Bank Financial lifted their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Royal Bank Of Canada raised their price target on Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. UBS Group reaffirmed a “buy” rating and set a $39.00 price objective (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $38.00 price target (up previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in Brookfield Renewable Partners in the 4th quarter valued at approximately $225,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Renewable Partners by 340.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,115,743 shares of the utilities provider’s stock valued at $30,207,000 after buying an additional 862,280 shares during the period. BROOKFIELD Corp ON boosted its stake in shares of Brookfield Renewable Partners by 9.4% in the fourth quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after buying an additional 6,967,670 shares in the last quarter. Corient IA LLC purchased a new stake in shares of Brookfield Renewable Partners in the fourth quarter valued at approximately $202,000. Finally, UMB Bank n.a. acquired a new position in Brookfield Renewable Partners during the fourth quarter worth $98,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $31.75 on Monday. The stock has a market cap of $9.01 billion, a P/E ratio of -122.10 and a beta of 1.14. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $32.72. The stock has a 50 day moving average of $28.36 and a two-hundred day moving average of $27.56. The company has a current ratio of 0.19, a quick ratio of 0.58 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. On average, research analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, February 27th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s payout ratio is currently -573.08%.

About Brookfield Renewable Partners

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.