Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $29.13 Consensus Target Price from Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP have been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $29.13.

Several research analysts recently issued reports on the company. Wall Street Zen downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. Wells Fargo & Company lowered their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Scotiabank upped their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Barclays initiated coverage on shares of Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price objective for the company. Finally, CIBC reduced their price target on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th.

Brookfield Renewable Partners Trading Up 0.5%

Shares of BEP traded up $0.13 during midday trading on Wednesday, hitting $23.98. 272,150 shares of the stock were exchanged, compared to its average volume of 564,211. Brookfield Renewable Partners has a 52-week low of $19.29 and a 52-week high of $29.56. The stock has a fifty day simple moving average of $22.74 and a 200 day simple moving average of $22.87. The firm has a market cap of $6.81 billion, a P/E ratio of -26.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

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

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio is currently -147.52%.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of large investors have recently modified their holdings of BEP. Golden State Wealth Management LLC increased its stake in Brookfield Renewable Partners by 103.6% in the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 579 shares during the last quarter. Promus Capital LLC acquired a new position in Brookfield Renewable Partners in the fourth quarter valued at $37,000. Rossby Financial LCC acquired a new position in Brookfield Renewable Partners in the first quarter valued at $41,000. NBC Securities Inc. acquired a new position in shares of Brookfield Renewable Partners during the first quarter valued at about $42,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 537 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

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.