Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Has Consensus Target Price of $38.14

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $38.14.

A number of equities research analysts have commented on the company. BMO Capital Markets set a $41.00 price target on Brookfield Renewable Partners in a research note on Monday, August 17th. Barclays set a $30.00 price target on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $36.00 price objective on shares of Brookfield Renewable Partners in a report on Tuesday, July 21st. UBS Group restated a “buy” rating and set a $40.00 price objective (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, September 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Altus USA Inc. grew its holdings in shares of Brookfield Renewable Partners by 600.0% during the second quarter. Wellington Altus USA Inc. now owns 3,500 shares of the utilities provider’s stock valued at $114,000 after buying an additional 3,000 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at $82,000. Corient Private Wealth LP purchased a new position in Brookfield Renewable Partners in the 2nd quarter worth $250,000. TD Waterhouse Canada Inc. raised its stake in Brookfield Renewable Partners by 1.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,072,131 shares of the utilities provider’s stock worth $36,939,000 after acquiring an additional 19,957 shares during the last quarter. Finally, First Bancorp Inc ME purchased a new position in Brookfield Renewable Partners in the 2nd quarter worth $71,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $28.38 on Tuesday. The business’s fifty day simple moving average is $31.87 and its 200-day simple moving average is $33.16. The company has a market cap of $8.52 billion, a PE ratio of -61.70 and a beta of 1.10. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87. Brookfield Renewable Partners has a 12-month low of $25.50 and a 12-month high of $38.12.

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

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.3920 per share. The ex-dividend date is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a yield of 5.5%. Brookfield Renewable Partners’s dividend payout ratio is presently -341.30%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a renewable power and decarbonization solutions company that develops, owns, and operates clean energy assets. Its portfolio includes hydroelectric, wind, utility-scale solar, distributed energy, and energy storage facilities.

The company also provides sustainable solutions to businesses and other organizations, including renewable power, renewable natural gas, carbon capture, and other services intended to support emissions reduction and energy transition goals.