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

Brookfield Renewable Partners L.P. (NYSE:BEPGet Free Report) (TSE:BEP) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $38.00.

A number of equities analysts have recently commented on the company. TD Securities reiterated a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. National Bank Financial lifted their price objective on Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday. Scotiabank reiterated an “outperform” rating and issued a $42.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Friday, May 29th. TD lifted their price objective on Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Morgan Stanley lifted their price objective on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd.

Check Out Our Latest Stock Report on BEP

Hedge Funds Weigh In On Brookfield Renewable Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEP. BROOKFIELD Corp ON increased its stake in Brookfield Renewable Partners by 9.4% during 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 acquiring an additional 6,967,670 shares during the period. State of Wisconsin Investment Board increased its stake in Brookfield Renewable Partners by 128.0% during the fourth quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock valued at $131,265,000 after acquiring an additional 2,732,542 shares during the period. Bank of Montreal Can increased its stake in Brookfield Renewable Partners by 20.3% during the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock valued at $226,859,000 after acquiring an additional 1,415,989 shares during the period. Morgan Stanley increased its stake in Brookfield Renewable Partners by 41.9% during the fourth quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock valued at $108,663,000 after acquiring an additional 1,189,130 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Brookfield Renewable Partners by 340.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,115,743 shares of the utilities provider’s stock valued at $30,207,000 after acquiring an additional 862,280 shares during the period. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $34.29 on Friday. Brookfield Renewable Partners has a fifty-two week low of $24.13 and a fifty-two week high of $38.12. The business has a 50-day moving average of $34.76 and a two-hundred day moving average of $31.29. The stock has a market capitalization of $10.35 billion, a P/E ratio of -110.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last posted its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. On average, equities research analysts predict that Brookfield Renewable Partners will post -1.53 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a $0.392 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.6%. Brookfield Renewable Partners’s payout ratio is presently -506.45%.

About Brookfield Renewable Partners

(Get Free Report)

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.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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