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

Key Points

• Brookfield Renewable Partners has a consensus analyst rating of “Moderate Buy” from 16 covering firms, with 11 buy ratings, 4 holds, and 1 sell. The average 12-month price target is $38.00.
• The stock recently traded at $33.38, below the broker average target, and the company’s market cap is about $10.07 billion. Shares have ranged from $24.13 to $38.12 over the past 52 weeks.
• Brookfield Renewable Partners reported a quarterly EPS loss of $0.40, missing estimates, though revenue of $1.51 billion was slightly above expectations. The company also paid a quarterly dividend of $0.392, or $1.57 annualized, for a yield of about 4.7%.

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has received a consensus recommendation of "Moderate Buy" from the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $38.00.

A number of brokerages have recently issued reports on BEP. Morgan Stanley boosted their price objective on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. Zacks Research cut Brookfield Renewable Partners from a "hold" rating to a "strong sell" rating in a report on Friday, July 3rd. TD boosted their price target on Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and issued a $40.00 price objective (up from $37.00) on shares of Brookfield Renewable Partners in a report on Monday, April 20th. Finally, Scotiabank reiterated an "outperform" rating and set a $42.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a research report on Friday, May 29th.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $33.38 on Thursday. The company's 50-day moving average is $34.95 and its 200-day moving average is $32.14. 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 firm has a market capitalization of $10.07 billion, a PE ratio of -107.66 and a beta of 1.10. Brookfield Renewable Partners has a fifty-two week low of $24.13 and a fifty-two week high of $38.12.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Equities analysts forecast that Brookfield Renewable Partners will post -1.53 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a $0.392 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.7%. Brookfield Renewable Partners's payout ratio is currently -506.45%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Kelleher Financial Advisors bought a new position in Brookfield Renewable Partners during the 3rd quarter worth $26,000. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at $34,000. CENTRAL TRUST Co bought a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at $55,000. Triumph Capital Management acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth $55,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Brookfield Renewable Partners by 284.5% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

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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