Brookfield Renewable Partners L.P. (BEP) Receives $38.44 Consensus Price Target from Brokerages

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned an average rating of “Hold” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $38.44.

A number of equities research analysts have recently issued reports on BEP shares. Zacks Investment Research raised shares of Brookfield Renewable Partners L.P. from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, October 5th. BMO Capital Markets restated a “hold” rating and set a $35.00 target price on shares of Brookfield Renewable Partners L.P. in a research note on Friday, October 20th. CIBC cut shares of Brookfield Renewable Partners L.P. from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, November 2nd. National Bank Financial lifted their target price on shares of Brookfield Renewable Partners L.P. from $35.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 18th. Finally, Royal Bank Of Canada lifted their target price on shares of Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 8th.

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in Brookfield Renewable Partners L.P. in the 2nd quarter worth about $109,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Brookfield Renewable Partners L.P. during the third quarter valued at approximately $213,000. Chicago Partners Investment Group LLC bought a new position in shares of Brookfield Renewable Partners L.P. during the second quarter valued at approximately $259,000. Baldwin Investment Management LLC bought a new position in shares of Brookfield Renewable Partners L.P. during the third quarter valued at approximately $296,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Brookfield Renewable Partners L.P. by 242.2% during the second quarter. Wells Fargo & Company MN now owns 8,972 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 6,350 shares in the last quarter. Institutional investors and hedge funds own 57.71% of the company’s stock.

Shares of Brookfield Renewable Partners L.P. (BEP) traded up $0.02 during mid-day trading on Thursday, hitting $33.75. 57,638 shares of the stock were exchanged, compared to its average volume of 73,726. Brookfield Renewable Partners L.P. has a 12-month low of $28.13 and a 12-month high of $36.00. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.74.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be issued a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 5.55%. This is an increase from Brookfield Renewable Partners L.P.’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, November 29th. Brookfield Renewable Partners L.P.’s dividend payout ratio is presently -1,558.20%.

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About Brookfield Renewable Partners L.P.

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

Analyst Recommendations for Brookfield Renewable Partners L.P. (NYSE:BEP)

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