Brookfield Renewable Partners L.P. (BEP) Rating Reiterated by Brookfield Renewable Partners LP

Brookfield Renewable Partners LP reissued their sector perform rating on shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in a research report sent to investors on Tuesday, StockTargetPrices.com reports. The brokerage currently has a $44.50 target price on the utilities provider’s stock.

A number of other equities research analysts have also recently commented on BEP. Barclays PLC reaffirmed an equal weight rating and issued a $32.00 target price (down from $33.00) on shares of Brookfield Renewable Partners L.P. in a report on Sunday, April 23rd. TD Securities reaffirmed a buy rating and issued a $45.00 target price on shares of Brookfield Renewable Partners L.P. in a report on Thursday, May 4th. GMP Securities reaffirmed a buy rating and issued a $32.00 target price on shares of Brookfield Renewable Partners L.P. in a report on Friday, May 5th. Wells Fargo & Company initiated coverage on shares of Brookfield Renewable Partners L.P. in a report on Tuesday, May 9th. They issued an outperform rating for the company. Finally, Zacks Investment Research cut shares of Brookfield Renewable Partners L.P. from a hold rating to a sell rating in a report on Tuesday, May 9th. Ten analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $36.56.

Brookfield Renewable Partners L.P. (NYSE:BEP) opened at 34.87 on Tuesday. Brookfield Renewable Partners L.P. has a 52-week low of $26.61 and a 52-week high of $35.00. The company has a 50 day moving average price of $33.34 and a 200 day moving average price of $31.27. The firm has a market capitalization of $10.34 billion, a P/E ratio of 11623.33 and a beta of 0.25.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, August 4th. The utilities provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Brookfield Renewable Partners L.P. had a net margin of 2.82% and a return on equity of 0.76%. The business had revenue of $683 million during the quarter, compared to analysts’ expectations of $721.75 million. On average, equities analysts forecast that Brookfield Renewable Partners L.P. will post $0.11 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.4675 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.36%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Hexavest Inc. raised its position in shares of Brookfield Renewable Partners L.P. by 8.3% in the first quarter. Hexavest Inc. now owns 334,740 shares of the utilities provider’s stock worth $9,889,000 after buying an additional 25,708 shares during the period. Karpas Strategies LLC raised its position in shares of Brookfield Renewable Partners L.P. by 0.8% in the first quarter. Karpas Strategies LLC now owns 115,725 shares of the utilities provider’s stock worth $3,441,000 after buying an additional 900 shares during the period. Principal Financial Group Inc. raised its position in shares of Brookfield Renewable Partners L.P. by 5.6% in the first quarter. Principal Financial Group Inc. now owns 2,249,697 shares of the utilities provider’s stock worth $66,883,000 after buying an additional 119,318 shares during the period. FMR LLC raised its position in shares of Brookfield Renewable Partners L.P. by 2.9% in the first quarter. FMR LLC now owns 1,185,800 shares of the utilities provider’s stock worth $35,132,000 after buying an additional 33,000 shares during the period. Finally, Global X Management Co. LLC raised its position in shares of Brookfield Renewable Partners L.P. by 1,008.4% in the first quarter. Global X Management Co. LLC now owns 287,740 shares of the utilities provider’s stock worth $8,555,000 after buying an additional 261,780 shares during the period. Institutional investors and hedge funds own 54.31% of the company’s stock.

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.

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