Brookfield Renewable Partners L.P. (NYSE:BEP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $34.9286.

Several equities research analysts have recently commented on the company. Canadian Imperial Bank of Commerce started coverage on Brookfield Renewable Partners in a report on Wednesday, March 4th. They issued an “outperformer” rating and a $37.00 price objective for the company. National Bank Financial boosted their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. Barclays set a $28.00 price objective on shares of Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Desjardins upgraded shares of Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th.

Brookfield Renewable Partners Stock Up 2.6%

BEP stock traded up $0.79 during midday trading on Friday, hitting $31.61. The company’s stock had a trading volume of 34,034 shares, compared to its average volume of 584,097. The company’s fifty day moving average price is $29.83 and its 200 day moving average price is $28.33. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $32.78. The stock has a market capitalization of $9.65 billion, a P/E ratio of -121.58 and a beta of 1.13.

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

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $0.392 dividend. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is currently -603.85%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of large investors have recently added to or reduced their stakes in BEP. Ovata Capital Management Ltd boosted its position in Brookfield Renewable Partners by 3.3% during the fourth quarter. Ovata Capital Management Ltd now owns 180,781 shares of the utilities provider’s stock worth $4,876,000 after purchasing an additional 5,855 shares during the period. Ketron Financial acquired a new stake in shares of Brookfield Renewable Partners during the 4th quarter worth about $305,000. Mackenzie Financial Corp lifted its stake in shares of Brookfield Renewable Partners by 3.5% during the 4th quarter. Mackenzie Financial Corp now owns 48,359 shares of the utilities provider’s stock worth $1,297,000 after buying an additional 1,623 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Brookfield Renewable Partners during the 4th quarter worth about $1,073,000. Finally, Investment Management Corp of Ontario bought a new stake in shares of Brookfield Renewable Partners during the 4th quarter worth about $759,000. Institutional investors own 63.16% of the company’s stock.

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.