Brookfield Renewable Partners (NYSE:BEP) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) announced its quarterly earnings data on Friday. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03, MarketWatch Earnings reports. Brookfield Renewable Partners had a return on equity of 1.54% and a net margin of 8.39%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The business’s revenue was up 10.6% on a year-over-year basis.

Brookfield Renewable Partners Stock Down 2.8 %

BEP stock traded down $0.72 during midday trading on Friday, hitting $25.41. The stock had a trading volume of 487,153 shares, compared to its average volume of 284,293. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of -79.41 and a beta of 0.85. The business has a 50-day moving average of $26.00 and a two-hundred day moving average of $25.09. Brookfield Renewable Partners has a 52-week low of $19.97 and a 52-week high of $32.76. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.76 and a quick ratio of 0.76.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, February 29th will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.59%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Wednesday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is presently -421.88%.

Analyst Ratings Changes

BEP has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, November 13th. UBS Group downgraded Brookfield Renewable Partners from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $25.00 in a research report on Friday, November 17th. Raymond James decreased their target price on Brookfield Renewable Partners from $37.00 to $33.00 and set a “strong-buy” rating for the company in a report on Monday, November 6th. National Bankshares upped their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. Finally, TD Securities decreased their target price on Brookfield Renewable Partners from $38.00 to $32.00 and set an “action list buy” rating for the company in a report on Wednesday, October 18th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.20.

View Our Latest Research Report on Brookfield Renewable Partners

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Brookfield Renewable Partners by 5.5% in the third quarter. Morgan Stanley now owns 1,553,677 shares of the utilities provider’s stock worth $33,777,000 after acquiring an additional 81,246 shares during the last quarter. Toroso Investments LLC purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth $695,000. The Manufacturers Life Insurance Company grew its stake in shares of Brookfield Renewable Partners by 9.6% in the third quarter. The Manufacturers Life Insurance Company now owns 253,199 shares of the utilities provider’s stock worth $5,527,000 after acquiring an additional 22,090 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Brookfield Renewable Partners by 286.2% in the third quarter. Ameriprise Financial Inc. now owns 917,641 shares of the utilities provider’s stock worth $19,950,000 after acquiring an additional 680,035 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Brookfield Renewable Partners by 30.6% in the third quarter. Stifel Financial Corp now owns 30,798 shares of the utilities provider’s stock worth $670,000 after acquiring an additional 7,219 shares during the last quarter. 60.36% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Renewable Partners

(Get Free Report)

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

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Earnings History for Brookfield Renewable Partners (NYSE:BEP)

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