Brookfield Renewable Partners L.P. (NYSE:BEP) Given Average Rating of “Hold” by Analysts

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has received an average recommendation of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $41.89.

A number of research firms have weighed in on BEP. Tudor Pickering reiterated a “buy” rating and issued a $44.00 price target on shares of Brookfield Renewable Partners in a research report on Thursday, August 5th. Zacks Investment Research upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 6th. Raymond James restated a “market perform” rating and set a $41.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, August 9th. Tudor Pickering & Holt set a $44.00 target price on shares of Brookfield Renewable Partners and gave the stock a “buy” rating in a research report on Thursday, August 5th. Finally, Mizuho upped their target price on shares of Brookfield Renewable Partners from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 25th. They noted that the move was a valuation call.

Shares of BEP traded up $0.30 during mid-day trading on Thursday, reaching $38.41. The stock had a trading volume of 2,464 shares, compared to its average volume of 381,782. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of -43.14 and a beta of 0.56. Brookfield Renewable Partners has a 12 month low of $29.80 and a 12 month high of $49.87. The business has a fifty day moving average of $39.12 and a 200 day moving average of $39.54. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.86 and a current ratio of 0.86.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Thursday, August 5th. The utilities provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.10). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $928.42 million. Brookfield Renewable Partners had a negative return on equity of 1.80% and a negative net margin of 9.25%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 earnings per share. On average, research analysts forecast that Brookfield Renewable Partners will post -0.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Tuesday, August 31st will be given a dividend of $0.3038 per share. The ex-dividend date of this dividend is Monday, August 30th. This represents a $1.22 annualized dividend and a yield of 3.16%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -200.00%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FIL Ltd raised its stake in shares of Brookfield Renewable Partners by 6.1% in the first quarter. FIL Ltd now owns 13,187,284 shares of the utilities provider’s stock valued at $562,981,000 after acquiring an additional 760,042 shares during the period. FMR LLC increased its stake in Brookfield Renewable Partners by 12.9% in the 2nd quarter. FMR LLC now owns 7,594,058 shares of the utilities provider’s stock worth $293,423,000 after buying an additional 867,494 shares during the period. Bank of Montreal Can increased its stake in Brookfield Renewable Partners by 3.9% in the 2nd quarter. Bank of Montreal Can now owns 6,624,741 shares of the utilities provider’s stock worth $258,136,000 after buying an additional 249,471 shares during the period. 1832 Asset Management L.P. increased its stake in Brookfield Renewable Partners by 92.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,014,385 shares of the utilities provider’s stock worth $156,156,000 after buying an additional 1,929,252 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Brookfield Renewable Partners by 1.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,587,304 shares of the utilities provider’s stock worth $138,361,000 after buying an additional 42,260 shares during the period. 54.81% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners LP engages in owning a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China.. It operates through following segments: Hydroelectric, Wind, Solar, Energy Transition, and Corporate. The Energy Transition segment distributes generation, pumped storage, cogeneration, and biomass.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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