Brokerages Set Brookfield Renewable Partners LP (NYSE:BEP) Target Price at $52.47

Shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) have been given a consensus rating of “Buy” by the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $52.47.

Several analysts have commented on the stock. Industrial Alliance Securities raised shares of Brookfield Renewable Partners to a “buy” rating and set a $63.69 target price for the company in a research report on Friday, March 20th. ValuEngine raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Credit Suisse Group assumed coverage on shares of Brookfield Renewable Partners in a research report on Monday, June 8th. They issued a “neutral” rating for the company. Royal Bank of Canada boosted their target price on shares of Brookfield Renewable Partners from $47.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, TheStreet raised shares of Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research report on Friday, June 19th.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in Brookfield Renewable Partners by 1,223.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,243,318 shares of the utilities provider’s stock valued at $52,829,000 after purchasing an additional 1,149,362 shares during the period. Silver Lake Advisory LLC boosted its holdings in Brookfield Renewable Partners by 4,314.0% in the 1st quarter. Silver Lake Advisory LLC now owns 885,000 shares of the utilities provider’s stock valued at $883,000 after purchasing an additional 864,950 shares during the period. CIBC Asset Management Inc boosted its holdings in Brookfield Renewable Partners by 44.7% in the 1st quarter. CIBC Asset Management Inc now owns 2,795,225 shares of the utilities provider’s stock valued at $117,134,000 after purchasing an additional 863,197 shares during the period. Fiera Capital Corp boosted its holdings in Brookfield Renewable Partners by 703.0% in the 1st quarter. Fiera Capital Corp now owns 764,008 shares of the utilities provider’s stock valued at $31,878,000 after purchasing an additional 668,869 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Brookfield Renewable Partners by 157.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 809,493 shares of the utilities provider’s stock valued at $34,069,000 after purchasing an additional 494,734 shares during the period. 57.73% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners stock traded up $0.04 during trading hours on Tuesday, hitting $47.45. The company had a trading volume of 193,500 shares, compared to its average volume of 453,451. The firm has a market capitalization of $8.49 billion, a P/E ratio of -175.74 and a beta of 0.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s fifty day moving average is $48.63 and its 200-day moving average is $47.30. Brookfield Renewable Partners has a fifty-two week low of $30.09 and a fifty-two week high of $57.69.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $792.00 million during the quarter. Brookfield Renewable Partners had a net margin of 4.68% and a return on equity of 0.85%.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Thursday, May 28th. Brookfield Renewable Partners’s dividend payout ratio is currently -1,142.11%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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