Brookfield Renewable Partners (NYSE:BEP) Reaches New 12-Month High - Here's Why

Key Points

• Shares hit a new 52-week high, trading as high as $35.12 (last around $34.99); analysts have a consensus target of $35.21 and Morgan Stanley notably raised its target to $42 with an "overweight" rating.
• Q4 results beat expectations — EPS $0.54 vs. consensus ($0.34) and revenue $1.54B vs. $1.49B — and the company raised its quarterly dividend to $0.392 (annualized $1.57) for a ~4.5% yield.
• Institutional ownership is high at 63.16%, with several funds adding or increasing stakes, while the firm has a $10.5B market cap, negative PE, and a debt/equity ratio around 0.80.

Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP shares reached a new 52-week high on Monday . The stock traded as high as $35.12 and last traded at $34.9890, with a volume of 57805 shares traded. The stock had previously closed at $34.66.

Analyst Upgrades and Downgrades

BEP has been the subject of several research reports. Barclays set a $28.00 price objective on shares of Brookfield Renewable Partners and gave the company an "equal weight" rating in a research note on Friday, January 23rd. Mizuho set a $31.00 price objective on shares of Brookfield Renewable Partners and gave the company a "neutral" rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of Brookfield Renewable Partners from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research note on Friday, March 27th. Finally, Morgan Stanley upped their price objective on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.21.

Brookfield Renewable Partners Stock Performance

The firm's 50 day moving average price is $31.56 and its two-hundred day moving average price is $29.40. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $10.50 billion, a PE ratio of -133.11 and a beta of 1.09.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.49 billion. On average, research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 27th were given a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, February 27th. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.37. Brookfield Renewable Partners's dividend payout ratio is -603.85%.

Institutional Trading of Brookfield Renewable Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Purpose Unlimited Inc. acquired a new stake in Brookfield Renewable Partners in the 4th quarter valued at approximately $12,576,000. Ovata Capital Management Ltd lifted its stake in Brookfield Renewable Partners by 3.3% during the 4th quarter. Ovata Capital Management Ltd now owns 180,781 shares of the utilities provider's stock worth $4,876,000 after acquiring an additional 5,855 shares in the last quarter. Ketron Financial acquired a new position in Brookfield Renewable Partners during the 4th quarter worth about $305,000. Mackenzie Financial Corp lifted its stake in Brookfield Renewable Partners by 3.5% during the 4th quarter. Mackenzie Financial Corp now owns 48,359 shares of the utilities provider's stock worth $1,297,000 after acquiring an additional 1,623 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Brookfield Renewable Partners during the 4th quarter worth about $1,073,000. 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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