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

Key Points

• The average rating for Brookfield Renewable Partners L.P. (NYSE:BEP) from eight research firms is a consensus of "Buy", with one firm rating it a "strong buy."
• The company recently reported a quarterly revenue of $1.69 billion but missed earnings expectations by 3 cents, showing a net margin of 2.28%.
• Brookfield Renewable Partners will pay a quarterly dividend of $0.373 on September 30th, which results in an annualized dividend yield of 6.0%.

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

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. CIBC boosted their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a research report on Monday, July 21st. National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Finally, Raymond James Financial downgraded Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th.

Brookfield Renewable Partners Price Performance

BEP stock opened at $25.07 on Friday. The stock's 50 day moving average price is $25.80 and its 200 day moving average price is $24.20. The firm has a market cap of $7.12 billion, a P/E ratio of -26.39 and a beta of 1.04. 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 1 year low of $19.29 and a 1 year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share 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 company had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.64 billion. On average, sell-side analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 6.0%. The ex-dividend date is Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is presently -156.84%.

Institutional Trading of Brookfield Renewable Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC increased its stake in shares of Brookfield Renewable Partners by 103.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock valued at $25,000 after acquiring 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 approximately $34,000. Russell Investments Group Ltd. acquired a new position in Brookfield Renewable Partners during the second quarter worth approximately $34,000. Rossby Financial LCC purchased a new position in Brookfield Renewable Partners during the first quarter worth approximately $41,000. Finally, NBC Securities Inc. purchased a new position in Brookfield Renewable Partners during the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 63.16% of the company's stock.

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.

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