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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Brookfield Renewable Partners, with 10 buy ratings and six holds. The average 1-year price target is $38.14, implying upside from the $29.69 share price.
• Institutional investors own 63.16% of the company, while several hedge funds recently increased their positions.
• Brookfield Renewable declared a quarterly dividend of $0.392 per share, equivalent to an annualized $1.57 payout and a 5.3% yield. Its latest quarterly revenue beat estimates, although adjusted EPS missed expectations.

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Get Free Report) TSE: BEP have been given an average recommendation of "Moderate Buy" by the sixteen research firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $38.1429.

Several equities analysts recently weighed in on the stock. Scotiabank reaffirmed 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. Zacks Research raised Brookfield Renewable Partners from a "strong sell" rating to a "hold" rating in a research note on Friday, August 14th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $36.00 target price on shares of Brookfield Renewable Partners in a report on Tuesday, July 21st. BMO Capital Markets set a $41.00 target price on Brookfield Renewable Partners in a research report on Monday, August 17th. Finally, UBS Group restated a "buy" rating and set a $40.00 price target (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds have recently made changes to their positions in BEP. Tacita Capital Inc increased its holdings in shares of Brookfield Renewable Partners by 0.7% during the fourth quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider's stock worth $3,220,000 after buying an additional 770 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Brookfield Renewable Partners by 2.3% during the first quarter. Sanctuary Advisors LLC now owns 65,217 shares of the utilities provider's stock worth $2,129,000 after buying an additional 1,494 shares during the last quarter. Cardinal Point Capital Management ULC raised its stake in shares of Brookfield Renewable Partners by 5.9% during the first quarter. Cardinal Point Capital Management ULC now owns 27,071 shares of the utilities provider's stock worth $881,000 after buying an additional 1,500 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Brookfield Renewable Partners by 284.5% in the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 1,633 shares during the last quarter. Finally, CENTRAL TRUST Co bought a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $55,000. Institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Down 0.5%

Shares of Brookfield Renewable Partners stock opened at $29.69 on Tuesday. The stock has a 50-day moving average price of $32.13 and a 200 day moving average price of $33.22. The company has a market cap of $8.91 billion, a P/E ratio of -64.54 and a beta of 1.10. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87. Brookfield Renewable Partners has a 1 year low of $24.80 and a 1 year high of $38.12.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.02). Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.56 billion. As a group, analysts expect that Brookfield Renewable Partners will post -1.87 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.392 per share. The ex-dividend date is Monday, August 31st. This represents a $1.57 annualized dividend and a dividend yield of 5.3%. Brookfield Renewable Partners's payout ratio is presently -341.30%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a renewable power and decarbonization solutions company that develops, owns, and operates clean energy assets. Its portfolio includes hydroelectric, wind, utility-scale solar, distributed energy, and energy storage facilities.

The company also provides sustainable solutions to businesses and other organizations, including renewable power, renewable natural gas, carbon capture, and other services intended to support emissions reduction and energy transition goals.

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