Brookfield Renewable Partners (NYSE:BEP) Hits New 12-Month High – Time to Buy?

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) hit a new 52-week high during trading on Monday . The company traded as high as $29.56 and last traded at $29.36, with a volume of 189653 shares trading hands. The stock had previously closed at $28.34.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BEP. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday. National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus price target of $32.30.

Brookfield Renewable Partners Stock Up 1.2 %

The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of -61.61 and a beta of 0.94. The stock’s fifty day simple moving average is $25.82 and its two-hundred day simple moving average is $25.28. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted ($0.10) EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, sell-side analysts predict that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.355 per share. The ex-dividend date was Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 4.95%. Brookfield Renewable Partners’s dividend payout ratio is presently -308.70%.

Institutional Trading of Brookfield Renewable Partners

Large investors have recently added to or reduced their stakes in the business. Triasima Portfolio Management inc. bought a new position in shares of Brookfield Renewable Partners in the second quarter worth $16,936,000. Liontrust Investment Partners LLP acquired a new stake in Brookfield Renewable Partners in the second quarter worth about $14,862,000. Price T Rowe Associates Inc. MD grew its position in Brookfield Renewable Partners by 103.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock valued at $27,214,000 after buying an additional 595,335 shares in the last quarter. NewGen Asset Management Ltd acquired a new position in Brookfield Renewable Partners during the 2nd quarter valued at about $6,188,000. Finally, TD Asset Management Inc lifted its stake in shares of Brookfield Renewable Partners by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after acquiring an additional 67,777 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

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.