Brookfield Renewable Partners (NYSE:BEP) Given a $44.00 Price Target by Tudor Pickering & Holt Analysts

Tudor Pickering & Holt set a $44.00 target price on Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report sent to investors on Wednesday, BayStreet.CA reports. The firm currently has a buy rating on the utilities provider’s stock.

BEP has been the topic of several other research reports. Credit Suisse Group upgraded Brookfield Renewable Partners from a neutral rating to an outperform rating and set a $45.00 price target on the stock in a research note on Monday, June 28th. Mizuho boosted their price objective on Brookfield Renewable Partners from $44.00 to $49.00 and gave the company a neutral rating in a report on Wednesday, August 25th. They noted that the move was a valuation call. TheStreet raised Brookfield Renewable Partners from a d+ rating to a c rating in a report on Tuesday, August 17th. Barclays boosted their price objective on Brookfield Renewable Partners from $44.00 to $47.00 and gave the company an overweight rating in a report on Friday, August 6th. Finally, Zacks Investment Research raised Brookfield Renewable Partners from a sell rating to a hold rating in a report on Friday, August 6th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $42.27.

Shares of BEP stock opened at $39.19 on Wednesday. Brookfield Renewable Partners has a 1-year low of $29.80 and a 1-year high of $49.87. The stock’s fifty day moving average price is $39.17 and its 200 day moving average price is $39.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $10.78 billion, a price-to-earnings ratio of -44.37 and a beta of 0.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Thursday, August 5th. The utilities provider reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.10). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $928.42 million. Brookfield Renewable Partners had a negative net margin of 9.25% and a negative return on equity of 1.80%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, equities research analysts anticipate that Brookfield Renewable Partners will post -0.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Tuesday, August 31st will be paid a dividend of $0.3038 per share. The ex-dividend date is Monday, August 30th. This represents a $1.22 annualized dividend and a yield of 3.10%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -200.00%.

Large investors have recently bought and sold shares of the business. JTC Employer Solutions Trusteee Ltd purchased a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $26,000. Advisory Services Network LLC purchased a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $44,000. Exchange Traded Concepts LLC increased its stake in Brookfield Renewable Partners by 19.9% during the 2nd quarter. Exchange Traded Concepts LLC now owns 2,071 shares of the utilities provider’s stock worth $80,000 after buying an additional 344 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Brookfield Renewable Partners in the second quarter valued at approximately $96,000. Finally, GPS Wealth Strategies Group LLC grew its position in shares of Brookfield Renewable Partners by 47.1% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,972 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 1,271 shares in the last quarter. Institutional investors own 54.81% of the company’s stock.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners LP engages in owning a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China.. It operates through following segments: Hydroelectric, Wind, Solar, Energy Transition, and Corporate. The Energy Transition segment distributes generation, pumped storage, cogeneration, and biomass.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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