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

Key Points

• Broker sentiment is moderately bullish: Sixteen analysts give Brookfield Renewable Partners a consensus “Moderate Buy” rating, with 10 buys, five holds and one sell. The average 12-month price target is $37.93 versus a recent price of $32.89.
• Institutional investors own 63.16% of the company: Several institutions recently initiated or increased positions, including Global Retirement Partners, which expanded its stake by 284.5%.
• Brookfield Renewable declared a quarterly dividend of $0.392: The payment implies an annualized dividend of $1.57 and a 4.8% yield. Its latest quarterly EPS of negative $0.37 slightly missed estimates, although revenue of $1.71 billion exceeded expectations.

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has been assigned a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $37.9286.

Several brokerages have recently issued reports on BEP. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $41.00 price target on shares of Brookfield Renewable Partners in a research note on Friday, July 17th. TD Securities reiterated a "buy" rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. National Bank Financial boosted their price objective on Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. Weiss Ratings restated a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research report on Wednesday, June 24th. Finally, UBS Group reaffirmed a "buy" rating and issued a $40.00 target price (up from $39.00) on shares of Brookfield Renewable Partners in a research note on Friday, June 12th.

Institutional Trading of Brookfield Renewable Partners

A number of institutional investors have recently bought and sold shares of BEP. Kelleher Financial Advisors bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at $26,000. Russell Investments Group Ltd. bought a new position in shares of Brookfield Renewable Partners in the 2nd quarter worth $34,000. CENTRAL TRUST Co bought a new position in shares of Brookfield Renewable Partners in the 1st quarter worth $55,000. Triumph Capital Management acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth $55,000. Finally, Global Retirement Partners LLC grew its stake in shares of Brookfield Renewable Partners by 284.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider's stock worth $60,000 after purchasing an additional 1,633 shares during the period. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Performance

BEP stock opened at $32.89 on Monday. The company has a 50 day moving average price of $34.33 and a 200 day moving average price of $32.74. Brookfield Renewable Partners has a fifty-two week low of $24.13 and a fifty-two week high of $38.12. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $9.87 billion, a PE ratio of -71.50 and a beta of 1.11.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.02). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.56 billion. Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.85%. Analysts forecast that Brookfield Renewable Partners will post -1.55 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.392 dividend. This represents a $1.57 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, August 31st. Brookfield Renewable Partners's dividend payout ratio is currently -506.45%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.

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