Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $30.11 Average Price Target from Analysts

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%.

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has been assigned an average rating of "Buy" from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $30.1111.

Several analysts recently issued reports on the company. Scotiabank boosted their price target on 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. Raymond James Financial downgraded Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. National Bankshares boosted their price target on 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 upgraded Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Finally, CIBC boosted their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st.

Brookfield Renewable Partners Stock Performance

NYSE BEP traded down $0.27 during trading on Friday, reaching $25.36. 192,792 shares of the company's stock were exchanged, compared to its average volume of 361,009. The business has a 50 day moving average price of $25.74 and a 200-day moving average price of $24.27. The stock has a market capitalization of $7.20 billion, a P/E ratio of -26.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick 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.

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) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Sell-side 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. Investors of record on Friday, August 29th will be paid a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Friday, August 29th. Brookfield Renewable Partners's payout ratio is -156.84%.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in shares of Brookfield Renewable Partners by 2.3% in the first quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider's stock valued at $373,164,000 after buying an additional 374,087 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Brookfield Renewable Partners by 6.3% in the first quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider's stock valued at $184,904,000 after buying an additional 492,199 shares during the period. Bank of Montreal Can boosted its stake in shares of Brookfield Renewable Partners by 0.8% in the second quarter. Bank of Montreal Can now owns 6,550,512 shares of the utilities provider's stock valued at $167,123,000 after buying an additional 48,802 shares during the period. TD Asset Management Inc boosted its stake in shares of Brookfield Renewable Partners by 30.1% in the first quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider's stock valued at $65,866,000 after buying an additional 689,196 shares during the period. Finally, CCLA Investment Management boosted its stake in shares of Brookfield Renewable Partners by 1.3% in the first quarter. CCLA Investment Management now owns 2,661,405 shares of the utilities provider's stock valued at $58,923,000 after buying an additional 33,433 shares during the period. 63.16% of the stock is currently owned by 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.