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

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $38.00.

Several research firms recently weighed in on BEP. Wall Street Zen lowered Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. TD Securities reissued a “buy” rating and set a $39.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. National Bank Financial increased their target price on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Scotiabank restated an “outperform” rating and issued a $42.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Friday, May 29th. Finally, TD lifted their price target on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a report on Monday, May 4th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BEP. Kelleher Financial Advisors bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth $26,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the second quarter valued at about $34,000. Triumph Capital Management bought a new position in Brookfield Renewable Partners in the third quarter valued at about $55,000. CENTRAL TRUST Co acquired a new stake in shares of Brookfield Renewable Partners during the first quarter valued at about $55,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Brookfield Renewable Partners by 284.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,633 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Up 1.4%

Shares of BEP opened at $32.56 on Thursday. The firm has a 50 day simple moving average of $34.86 and a two-hundred day simple moving average of $32.32. 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 has a one year low of $24.13 and a one year high of $38.12. The company has a market cap of $9.77 billion, a P/E ratio of -105.04 and a beta of 1.10.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Research analysts forecast that Brookfield Renewable Partners will post -1.53 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, May 29th. Brookfield Renewable Partners’s payout ratio is presently -503.23%.

About Brookfield Renewable Partners

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.