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

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP have been assigned a consensus rating of "Buy" from the eight research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.1111.

A number of equities research analysts recently commented on the company. 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 research report on Monday, May 5th. National Bankshares boosted their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. National Bank Financial raised 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 company an "outperformer" rating in a report on Monday, July 21st. Finally, Scotiabank lifted their target price on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 18th.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP traded up $0.0760 during midday trading on Monday, reaching $24.8060. The company's stock had a trading volume of 278,086 shares, compared to its average volume of 636,486. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.44 and a current ratio of 0.44. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The company has a market cap of $7.04 billion, a P/E ratio of -26.12 and a beta of 1.05. The business's 50 day moving average price is $25.97 and its two-hundred day moving average price is $23.90.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. On average, analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -156.84%.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEP. Golden State Wealth Management LLC grew its holdings in shares of 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 worth $25,000 after purchasing an additional 579 shares during the last quarter. Hilltop National Bank purchased a new stake in Brookfield Renewable Partners in the second quarter valued at $34,000. Russell Investments Group Ltd. acquired a new stake in Brookfield Renewable Partners during the 2nd quarter worth about $34,000. Rossby Financial LCC acquired a new position in Brookfield Renewable Partners in the first quarter valued at approximately $41,000. Finally, NBC Securities Inc. purchased a new stake in Brookfield Renewable Partners in the 1st quarter worth approximately $42,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

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.