Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Average Recommendation of “Buy” from Analysts

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been given a consensus rating of “Buy” by the eight brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $29.13.

BEP has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. National Bank Financial raised Brookfield Renewable Partners to a “strong-buy” rating in a research report on Sunday, June 8th. Barclays began coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price target on the stock. Finally, CIBC dropped their price objective on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating for the company in a research note on Monday, May 5th.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several hedge funds have recently bought and sold shares of the business. Bank of Nova Scotia Trust Co. grew its stake in Brookfield Renewable Partners by 31.3% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 148,495 shares of the utilities provider’s stock worth $3,384,000 after acquiring an additional 35,429 shares in the last quarter. Raymond James Financial Inc. bought a new position in Brookfield Renewable Partners in the fourth quarter worth approximately $2,623,000. SOA Wealth Advisors LLC. bought a new position in Brookfield Renewable Partners in the first quarter worth approximately $583,000. NINE MASTS CAPITAL Ltd increased its holdings in Brookfield Renewable Partners by 240.0% during the 4th quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider’s stock worth $3,135,000 after purchasing an additional 97,105 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Brookfield Renewable Partners by 28.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,927 shares of the utilities provider’s stock valued at $33,687,000 after purchasing an additional 324,653 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

BEP stock opened at $26.60 on Friday. Brookfield Renewable Partners has a 52 week low of $19.29 and a 52 week high of $29.56. The firm has a market capitalization of $7.55 billion, a P/E ratio of -26.33 and a beta of 0.99. The company has a fifty day simple moving average of $24.38 and a two-hundred day simple moving average of $22.97. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.90.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. The business had revenue of $907.00 million for the quarter, compared to analysts’ expectations of $1.73 billion. Analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Renewable Partners’s dividend payout ratio is currently -147.52%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.