Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $30.50

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has been assigned an average rating of “Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $30.50.

A number of equities research analysts have commented on BEP shares. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Scotiabank increased their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. CIBC dropped their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, February 3rd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Mirabella Financial Services LLP increased its stake in Brookfield Renewable Partners by 145.2% during the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after acquiring an additional 276,374 shares during the last quarter. Bank of Montreal Can increased its position in Brookfield Renewable Partners by 0.4% during the 3rd quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after purchasing an additional 26,189 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Brookfield Renewable Partners by 609.2% in the third quarter. BNP Paribas Financial Markets now owns 11,808 shares of the utilities provider’s stock valued at $333,000 after buying an additional 10,143 shares during the period. Cadence Bank acquired a new position in Brookfield Renewable Partners during the third quarter valued at approximately $212,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Brookfield Renewable Partners by 8.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 328,066 shares of the utilities provider’s stock worth $9,245,000 after buying an additional 24,467 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Down 0.8 %

Shares of BEP stock opened at $22.40 on Friday. The stock has a market cap of $6.38 billion, a P/E ratio of -25.16 and a beta of 1.02. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The business has a fifty day simple moving average of $22.28 and a 200-day simple moving average of $24.25.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 6.66%. Brookfield Renewable Partners’s payout ratio is currently -167.42%.

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.