Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) Price Target at $43.04

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have earned an average rating of “Hold” from the seventeen research firms that are covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $43.04.

Several equities analysts recently commented on BEP shares. CSFB set a $45.00 target price on Brookfield Renewable Partners and gave the stock an “outperform” rating in a research report on Wednesday, September 22nd. Credit Suisse Group restated an “outperform” rating and set a $45.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, September 22nd. Barclays raised their target price on Brookfield Renewable Partners from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, August 6th. Tudor Pickering reiterated a “buy” rating and issued a C$44.00 price objective on shares of Brookfield Renewable Partners in a research report on Friday, September 24th. Finally, TheStreet upgraded Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research report on Tuesday, August 17th.

Shares of NYSE:BEP opened at $38.93 on Monday. Brookfield Renewable Partners has a 1-year low of $34.55 and a 1-year high of $49.87. The firm has a market capitalization of $10.70 billion, a PE ratio of -44.07 and a beta of 0.56. The business’s 50 day moving average is $38.83 and its 200-day moving average is $39.16. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.88.

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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 29th. Stockholders of record on Tuesday, August 31st were given a dividend of $0.3038 per share. The ex-dividend date was Monday, August 30th. This represents a $1.22 annualized dividend and a dividend yield of 3.12%. Brookfield Renewable Partners’s dividend payout ratio is currently -200.00%.

Hedge funds have recently bought and sold shares of the company. JTC Employer Solutions Trusteee Ltd acquired a new position in shares of Brookfield Renewable Partners during the second quarter worth about $26,000. Advisory Services Network LLC acquired a new position in shares of Brookfield Renewable Partners during the second quarter worth about $44,000. Exchange Traded Concepts LLC boosted its position in shares of Brookfield Renewable Partners by 19.9% during the second quarter. Exchange Traded Concepts LLC now owns 2,071 shares of the utilities provider’s stock worth $80,000 after buying an additional 344 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Brookfield Renewable Partners during the second quarter worth about $96,000. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of Brookfield Renewable Partners by 47.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 3,972 shares of the utilities provider’s stock worth $153,000 after buying an additional 1,271 shares during the period. 54.81% of the stock is owned by institutional investors.

About Brookfield Renewable Partners

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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