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

by · The Cerbat Gem

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP – Get Free Report) (TSE:BEP) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $31.78.

BEP has been the subject of several research reports. CIBC lifted their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. National Bankshares upped their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th.

Check Out Our Latest Stock Analysis on BEP

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Brookfield Renewable Partners during the first quarter worth approximately $31,000. Evermay Wealth Management LLC acquired a new stake in shares of Brookfield Renewable Partners in the first quarter worth $49,000. Clear Point Advisors Inc. purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at $49,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Brookfield Renewable Partners by 17.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Down 1.8 %

Brookfield Renewable Partners stock opened at $27.21 on Tuesday. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of -59.15 and a beta of 0.94. The stock’s fifty day moving average is $26.24 and its two-hundred day moving average is $25.51. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52.

Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. Brookfield Renewable Partners’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share. Analysts predict that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.22%. Brookfield Renewable Partners’s payout ratio is -308.70%.

Brookfield Renewable Partners Company Profile

(Get Free Report

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.

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