Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Consensus Rating of "Buy" from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has received a consensus rating of "Buy" from the eight research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $29.89.

A number of research firms have recently commented on BEP. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating on the stock in a research report on Tuesday. Scotiabank lifted their price target on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 18th. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. CIBC lifted their price target on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research note on Monday. Finally, Raymond James Financial lowered shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds have recently modified their holdings of the business. Bank of Nova Scotia Trust Co. lifted its position in Brookfield Renewable Partners by 31.3% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 148,495 shares of the utilities provider's stock worth $3,384,000 after purchasing an additional 35,429 shares during the period. Raymond James Financial Inc. acquired a new position in Brookfield Renewable Partners during the fourth quarter worth $2,623,000. SOA Wealth Advisors LLC. acquired a new position in Brookfield Renewable Partners during the first quarter worth $583,000. Cambridge Investment Research Advisors Inc. raised its stake in Brookfield Renewable Partners by 16.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider's stock worth $574,000 after acquiring an additional 3,722 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Brookfield Renewable Partners by 69.7% during the fourth quarter. Jane Street Group LLC now owns 45,271 shares of the utilities provider's stock worth $1,032,000 after acquiring an additional 18,593 shares in the last quarter. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Trading Down 0.5%

Shares of BEP traded down $0.14 during mid-day trading on Thursday, hitting $27.44. The company had a trading volume of 296,691 shares, compared to its average volume of 417,768. The business's 50-day simple moving average is $25.44 and its 200-day simple moving average is $23.34. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.90. Brookfield Renewable Partners has a 1-year low of $19.29 and a 1-year high of $29.56. The stock has a market cap of $7.79 billion, a PE ratio of -27.17 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced 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). The business had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. Sell-side analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were given a dividend of $0.373 per share. The ex-dividend date was Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a yield of 5.44%. Brookfield Renewable Partners's payout ratio is currently -147.52%.

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.