Analysts Set Brookfield Renewable Partners L.P. (NYSE:BEP) PT at $38.14

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, MarketBeat.com reports. Six research 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 analysts that have issued ratings on the stock in the last year is $38.1429.

A number of brokerages recently commented on BEP. UBS Group restated a “buy” rating and set a $40.00 target price (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Barclays set a $30.00 target price on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $41.00 price target on shares of Brookfield Renewable Partners in a report on Friday, July 17th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BEP. Kelleher Financial Advisors purchased a new position in Brookfield Renewable Partners in the 3rd quarter worth about $26,000. Russell Investments Group Ltd. purchased a new position in shares of Brookfield Renewable Partners in the second quarter worth approximately $34,000. CENTRAL TRUST Co purchased a new position in shares of Brookfield Renewable Partners in the first quarter worth approximately $55,000. Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at $55,000. Finally, Global Retirement Partners LLC grew its holdings in 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 during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 0.1%

Shares of NYSE:BEP opened at $31.06 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $9.32 billion, a PE ratio of -67.52 and a beta of 1.10. The firm has a fifty day moving average of $32.94 and a 200 day moving average of $33.35. Brookfield Renewable Partners has a 52-week low of $24.48 and a 52-week high of $38.12.

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

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio is -341.30%.

Brookfield Renewable Partners Company Profile

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.