Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) PT at $30.11

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP have earned an average recommendation of "Buy" from the eight brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $30.1111.

Several research firms recently issued reports on BEP. Wells Fargo & Company decreased their target price on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Raymond James Financial lowered Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Scotiabank increased their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 18th. National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. Finally, National Bankshares increased their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Liontrust Investment Partners LLP acquired a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth about $24,180,000. National Bank of Canada FI raised its position in shares of Brookfield Renewable Partners by 0.9% during the 2nd quarter. National Bank of Canada FI now owns 2,489,280 shares of the utilities provider's stock worth $63,023,000 after acquiring an additional 22,323 shares in the last quarter. Northern Right Capital Management L.P. raised its position in shares of Brookfield Renewable Partners by 64.6% during the 2nd quarter. Northern Right Capital Management L.P. now owns 64,621 shares of the utilities provider's stock worth $1,648,000 after acquiring an additional 25,359 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Brookfield Renewable Partners by 7.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 129,157 shares of the utilities provider's stock worth $3,295,000 after acquiring an additional 8,704 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Brookfield Renewable Partners by 41.9% during the 2nd quarter. Bank of America Corp DE now owns 119,980 shares of the utilities provider's stock worth $3,061,000 after acquiring an additional 35,457 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Trading Up 3.2%

BEP traded up $0.7990 during mid-day trading on Monday, hitting $25.5690. 139,009 shares of the stock were exchanged, compared to its average volume of 633,946. The firm's fifty day moving average is $25.95 and its two-hundred day moving average is $23.93. Brookfield Renewable Partners has a 1-year low of $19.29 and a 1-year high of $29.56. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. The company has a market cap of $7.26 billion, a PE ratio of -26.95 and a beta of 1.05.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%.The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Equities analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share 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. Shareholders of record on Friday, August 29th will be given a $0.373 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 5.8%. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -156.84%.

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.