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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP have received an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.13.

A number of research analysts have recently issued reports on the stock. Barclays assumed 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 on the stock. Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. CIBC cut their price objective 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. National Bankshares cut 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, Wells Fargo & Company dropped their target price 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.

Brookfield Renewable Partners Price Performance

BEP stock traded down $0.05 during trading on Wednesday, hitting $23.84. 372,717 shares of the company's stock traded hands, compared to its average volume of 562,369. The business has a fifty day simple moving average of $22.68 and a 200 day simple moving average of $22.89. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of -26.79 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 has a 52 week low of $19.29 and a 52 week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data 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 company had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. As a group, research analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -147.52%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BEP. Advisors Capital Management LLC lifted its position in shares of Brookfield Renewable Partners by 44.6% during the first quarter. Advisors Capital Management LLC now owns 393,847 shares of the utilities provider's stock worth $8,728,000 after purchasing an additional 121,462 shares in the last quarter. SCS Capital Management LLC acquired a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $15,939,000. Goldman Sachs Group Inc. raised its holdings in Brookfield Renewable Partners by 57.0% in the first quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider's stock valued at $20,380,000 after acquiring an additional 333,789 shares in the last quarter. Royal Bank of Canada raised its holdings in Brookfield Renewable Partners by 2.3% in the first quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider's stock valued at $373,164,000 after acquiring an additional 374,087 shares in the last quarter. Finally, Northern Right Capital Management L.P. acquired a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $870,000. Hedge funds and other institutional investors own 63.16% of the company's stock.

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.