Brookfield Renewable Partners L.P. (NYSE:BEP) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Brookfield Renewable Partners L.P. has received a consensus recommendation of "Moderate Buy" from nine brokerages, with a price target averaging $30.00.
• Shares increased by 3.2%, reaching $27.37, with the stock showing a 52-week range of $19.29 to $29.56.
• The company reported an earnings miss in its latest quarterly results, posting an EPS of ($0.22) compared to the expected ($0.19).

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP has been assigned an average recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $30.00.

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of Brookfield Renewable Partners in a research report on Saturday, September 27th. Raymond James Financial cut shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Scotiabank upped their price objective on shares of 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 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 report on Tuesday, August 5th. Finally, CIBC upped 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.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC raised its stake in Brookfield Renewable Partners by 103.6% during the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock worth $25,000 after acquiring an additional 579 shares during the period. Hilltop National Bank acquired a new stake in Brookfield Renewable Partners during the second quarter worth about $34,000. Russell Investments Group Ltd. acquired a new stake in Brookfield Renewable Partners during the second quarter worth about $34,000. Rossby Financial LCC acquired a new stake in Brookfield Renewable Partners during the first quarter worth about $41,000. Finally, NBC Securities Inc. acquired a new stake in Brookfield Renewable Partners during the first quarter worth about $42,000. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Up 3.2%

Shares of NYSE BEP opened at $27.37 on Tuesday. Brookfield Renewable Partners has a 52-week low of $19.29 and a 52-week high of $29.56. The firm has a fifty day moving average of $25.50 and a 200-day moving average of $24.58. The stock has a market capitalization of $7.77 billion, a PE ratio of -28.81 and a beta of 1.13. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.97.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data 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 net margin of 2.28% and a return on equity of 0.44%. The company had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.64 billion. On average, analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is -156.84%.

About Brookfield Renewable Partners

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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