Brookfield Renewable Partners L.P. (NYSE:BEP) Given Average Recommendation of "Moderate Buy" by Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has been assigned an average rating of "Moderate Buy" from the eight ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.67.

Several analysts have commented on BEP shares. Barclays began coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. National Bankshares reduced their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Brookfield Renewable Partners by 1.3% in the fourth quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider's stock valued at $375,248,000 after acquiring an additional 211,467 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider's stock valued at $192,605,000 after acquiring an additional 1,628,524 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Brookfield Renewable Partners by 6.3% during the first quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider's stock valued at $184,904,000 after acquiring an additional 492,199 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Brookfield Renewable Partners by 4.7% during the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider's stock valued at $160,585,000 after acquiring an additional 315,272 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Brookfield Renewable Partners by 30.1% during the first quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider's stock valued at $65,866,000 after acquiring an additional 689,196 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Performance

Shares of BEP traded up $0.28 on Friday, reaching $23.92. The company's stock had a trading volume of 137,814 shares, compared to its average volume of 556,764. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. Brookfield Renewable Partners has a 12-month low of $19.29 and a 12-month high of $29.56. The stock has a market capitalization of $6.79 billion, a P/E ratio of -26.88 and a beta of 0.99. The stock's 50 day simple moving average is $22.40 and its two-hundred day simple moving average is $23.08.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The firm had revenue of $907.00 million for the quarter, compared to analysts' expectations of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. Research analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners's payout ratio is -147.52%.

About Brookfield Renewable Partners

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.