Brokerages Set Brookfield Renewable Partners L.P. (NYSE:BEP) PT at $41.89

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) has earned a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten research 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 $42.27.

A number of analysts have recently issued reports on the stock. Credit Suisse Group reiterated an “outperform” rating and set a $45.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday. Zacks Investment Research upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Friday, August 6th. Tudor Pickering & Holt set a $44.00 price target on shares of Brookfield Renewable Partners and gave the stock a “buy” rating in a research note on Wednesday. Raymond James raised shares of Brookfield Renewable Partners from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $44.00 in a report on Wednesday. Finally, Mizuho lifted their price objective on shares of Brookfield Renewable Partners from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 25th. They noted that the move was a valuation call.

Shares of BEP traded down $0.47 during mid-day trading on Thursday, hitting $38.72. The company had a trading volume of 359,839 shares, compared to its average volume of 381,194. The business’s 50-day simple moving average is $39.17 and its 200-day simple moving average is $39.54. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.88. Brookfield Renewable Partners has a 1-year low of $29.80 and a 1-year high of $49.87. The stock has a market cap of $10.65 billion, a PE ratio of -44.37 and a beta of 0.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Thursday, August 5th. The utilities provider reported ($0.13) earnings per share (EPS) 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $928.42 million. During the same period in the prior year, the business posted $0.43 earnings per share. Brookfield Renewable Partners’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that Brookfield Renewable Partners will post -0.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Tuesday, August 31st will be paid a dividend of $0.3038 per share. The ex-dividend date is Monday, August 30th. This represents a $1.22 annualized dividend and a yield of 3.14%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -200.00%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JTC Employer Solutions Trusteee Ltd bought a new stake in shares of Brookfield Renewable Partners in the 2nd quarter valued at approximately $26,000. Advisory Services Network LLC bought a new stake in Brookfield Renewable Partners during the second quarter worth approximately $44,000. Exchange Traded Concepts LLC boosted its position in 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 purchasing an additional 344 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Brookfield Renewable Partners during the second quarter worth approximately $96,000. Finally, GPS Wealth Strategies Group LLC boosted its position in 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 purchasing an additional 1,271 shares during the period. 54.81% of the stock is owned by institutional investors and hedge funds.

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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