Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.43.

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, September 21st. Zacks Research upgraded shares of Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. National Bank Financial set a $38.00 price target on shares of Brookfield Renewable Partners and gave the stock an “outperform” rating in a research note on Thursday, October 1st. Barclays set a $30.00 price target on shares of Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Morgan Stanley reduced their price target on shares of Brookfield Renewable Partners from $42.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday.

Institutional Trading of Brookfield Renewable Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co acquired a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at $55,000. GAMMA Investing LLC raised its position in Brookfield Renewable Partners by 44.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,460 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 757 shares during the last quarter. First Bancorp Inc ME acquired a new stake in Brookfield Renewable Partners during the 2nd quarter worth $71,000. Integrated Wealth Concepts LLC acquired a new stake in Brookfield Renewable Partners during the 2nd quarter worth $82,000. Finally, Wellington Altus USA Inc. grew its position in Brookfield Renewable Partners by 600.0% during the 2nd quarter. Wellington Altus USA Inc. now owns 3,500 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 3,000 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Down 0.8%

BEP stock traded down $0.23 during trading on Friday, hitting $28.42. 801,991 shares of the company’s stock were exchanged, compared to its average volume of 1,114,783. The business has a 50-day moving average price of $30.67 and a two-hundred day moving average price of $32.91. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of -61.78 and a beta of 1.10. Brookfield Renewable Partners has a 52-week low of $26.30 and a 52-week high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.56 billion. As a group, equities research analysts expect that Brookfield Renewable Partners will post -1.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were given a dividend of $0.3920 per share. The ex-dividend date was Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.5%. Brookfield Renewable Partners’s payout ratio is -341.30%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a renewable power and energy transition company that owns and operates a diversified portfolio of clean energy assets. Its main activities include generating electricity from hydroelectric, wind and solar facilities, as well as providing energy storage and other decarbonization solutions.

The company serves electricity markets and commercial, industrial and utility customers across North America, South America, Europe and the Asia-Pacific region. In addition to operating renewable power facilities, Brookfield Renewable develops new projects and invests in businesses supporting the transition to lower-carbon energy, including distributed energy and sustainable solutions.

Brookfield Renewable traces its origins to Brookfield Asset Management’s renewable power operations and became publicly listed as Brookfield Renewable Energy Partners in 2011.