Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $35.21 Consensus Price Target from Brokerages
by Kim Johansen · The Markets DailyShares of Brookfield Renewable Partners L.P. (NYSE:BEP – Get Free Report) (TSE:BEP) have earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $35.2143.
Several research firms have recently weighed in on BEP. UBS Group reissued a “buy” rating and set a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th. Canadian Imperial Bank of Commerce started coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, March 4th. They set an “outperformer” rating and a $37.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. Mizuho set a $31.00 target price on shares of Brookfield Renewable Partners and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, 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.
Read Our Latest Research Report on Brookfield Renewable Partners
Brookfield Renewable Partners Trading Up 1.4%
BEP opened at $33.56 on Tuesday. The firm has a market cap of $10.25 billion, a P/E ratio of -129.06 and a beta of 1.09. Brookfield Renewable Partners has a 12 month low of $19.29 and a 12 month high of $34.05. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $30.96 and a 200 day moving average of $29.00.
Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last issued its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. As a group, research analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current year.
Brookfield Renewable Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -603.85%.
Institutional Investors Weigh In On Brookfield Renewable Partners
Several hedge funds and other institutional investors have recently modified their holdings of the business. Kelleher Financial Advisors purchased a new position in Brookfield Renewable Partners during the 3rd quarter valued at $26,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the 2nd quarter valued at $34,000. Root Financial Partners LLC purchased a new stake in Brookfield Renewable Partners in the third quarter worth $46,000. Hilltop National Bank increased its stake in Brookfield Renewable Partners by 37.6% in the third quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 500 shares during the period. Finally, Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners during the third quarter worth $55,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.
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.