TSX:BEP.UN

Stock Analysis Report

Brookfield Renewable Partners

Executive Summary

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Brookfield Renewable Partners's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BEP.UN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.6%

BEP.UN

3.6%

CA Renewable Energy

0.6%

CA Market


1 Year Return

84.6%

BEP.UN

40.6%

CA Renewable Energy

5.8%

CA Market

Return vs Industry: BEP.UN exceeded the Canadian Renewable Energy industry which returned 40.6% over the past year.

Return vs Market: BEP.UN exceeded the Canadian Market which returned 5.8% over the past year.


Shareholder returns

BEP.UNIndustryMarket
7 Day2.6%3.6%0.6%
30 Day19.2%13.1%0.6%
90 Day20.4%21.1%3.5%
1 Year95.6%84.6%47.2%40.6%9.1%5.8%
3 Year123.9%87.2%58.1%36.7%15.4%5.0%
5 Year146.4%82.6%96.8%53.0%33.5%13.9%

Price Volatility Vs. Market

How volatile is Brookfield Renewable Partners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Brookfield Renewable Partners undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BEP.UN (CA$72.07) is trading below our estimate of fair value (CA$160.81)

Significantly Below Fair Value: BEP.UN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BEP.UN is unprofitable, so we can't compare its PE Ratio to the Renewable Energy industry average.

PE vs Market: BEP.UN is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BEP.UN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BEP.UN is good value based on its PB Ratio (2.1x) compared to the CA Renewable Energy industry average (2.4x).

Future Growth

How is Brookfield Renewable Partners forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

15.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BEP.UN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.4%).

Earnings vs Market: BEP.UN is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: BEP.UN's is expected to become profitable in the next 3 years.

Revenue vs Market: BEP.UN's revenue (6.5% per year) is forecast to grow faster than the Canadian market (4.9% per year).

High Growth Revenue: BEP.UN's revenue (6.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BEP.UN's Return on Equity is forecast to be low in 3 years time (12.4%).

Past Performance

How has Brookfield Renewable Partners performed over the past 5 years?

3.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BEP.UN is currently unprofitable.

Growing Profit Margin: BEP.UN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BEP.UN is unprofitable, but has reduced losses over the past 5 years at a rate of 3% per year.

Accelerating Growth: Unable to compare BEP.UN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BEP.UN is unprofitable, making it difficult to compare its past year earnings growth to the Renewable Energy industry (-28.4%).


Return on Equity

High ROE: BEP.UN has a negative Return on Equity (1.51%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed

Financial Health

How is Brookfield Renewable Partners's financial position?


Financial Position Analysis

Short Term Liabilities: BEP.UN's short term assets ($1.3B) exceed its short term liabilities ($895.0M).

Long Term Liabilities: BEP.UN's short term assets ($1.3B) do not cover its long term liabilities ($16.7B).


Debt to Equity History and Analysis

Debt Level: BEP.UN's debt to equity ratio (60.7%) is considered high.

Reducing Debt: BEP.UN's debt to equity ratio has reduced from 86.5% to 60.7% over the past 5 years.


Balance Sheet

Inventory Level: BEP.UN has a high level of physical assets or inventory.

Debt Coverage by Assets: BEP.UN's debt is not covered by short term assets (assets are 0.1x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BEP.UN has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: BEP.UN has been profitable on average in the past, therefore cash runway is not a concern.

Dividend

What is Brookfield Renewable Partners's current dividend yield, its reliability and sustainability?

3.99%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Brookfield Renewable Partners before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company4.0%marketbottom25%1.9%markettop25%5.3%industryaverage3.7%forecastin3Years4.2%

Current dividend yield vs market & industry

Notable Dividend: BEP.UN's dividend (3.99%) is higher than the bottom 25% of dividend payers in the Canadian market (1.91%).

High Dividend: BEP.UN's dividend (3.99%) is low compared to the top 25% of dividend payers in the Canadian market (5.32%).


Stability and Growth of Payments

Stable Dividend: BEP.UN's dividend payments have been volatile in the past 10 years.

Growing Dividend: BEP.UN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: BEP.UN is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: BEP.UN's dividends in 3 years are forecast to be covered by earnings (73.6% payout ratio).

Management

How experienced are the management team and are they aligned to shareholders interests?

0.9yrs

Average management tenure


CEO

Sachin Shah (42yo)

4.5yrs

Tenure

US$3,775,159

Compensation

Mr. Sachin G. Shah, CPA has been the Chief Executive Officer and Managing Partner of Renewable Power at Brookfield Renewable Partners Ltd since March 2019. Mr. Shah has been a Director of TerraForm Power,  ...


CEO Compensation Analysis

Compensation vs Market: Sachin's total compensation ($USD3.78M) is below average for companies of similar size in the Canadian market ($USD6.85M).

Compensation vs Earnings: Sachin's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Sachin Shah
Managing Partner & CEO of Renewable Power4.5yrsUS$3.78mno data
Jennifer Mazin
Managing Partner of Renewable Power0.9yrsUS$762.51kno data
Wyatt Hartley
Managing Director of Renewable Power0.9yrsUS$505.32kno data
F. Davidson
Managing Partner of Renewable Power0.9yrsUS$1.32mno data
Ralf Rank
Managing Partner of Private Equity3.1yrsUS$1.62m0.0014% $318.6k
Divya Biyani
Director of Investor Relations0yrsno datano data
Harry Goldgut
Vice Chair of Infrastructure & Renewable Power0yrsUS$1.27mno data
Richard Legault
Vice Chair of Renewable Power0yrsUS$1.44mno data
Jeffrey Martin
Senior Vice President of Energy Management Services0yrsno datano data
Benjamin Vaughan
Senior Managing Partner0yrsUS$2.58mno data

0.9yrs

Average Tenure

46yo

Average Age

Experienced Management: BEP.UN's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Jeffrey Blidner
Chairman of Brookfield Renewable Partners Limited8.5yrsno datano data
Nancy Dorn
Independent Director of Brookfield Renewable Partners Limited1.1yrsno datano data
David Mann
Lead independent Director of Brookfield Renewable Partners Limited4yrsno datano data
Louis Maroun
Independent Director of Brookfield Renewable Partners Limited8.5yrsno data0.0048% $1.1m
Eleazar de Carvalho Filho
Independent Director of Brookfield Renewable Partners Limited8.3yrsno data0.0032% $720.1k
Patricia Zuccotti
Independent Director of Brookfield Renewable Partners Limited8.3yrsno datano data
Stephen Westwell
Independent Director of Brookfield Renewable Partners Limited1.1yrsno datano data

8.3yrs

Average Tenure

69yo

Average Age

Experienced Board: BEP.UN's board of directors are considered experienced (8.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Brookfield Renewable Partners L.P.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Brookfield Renewable Partners L.P.
  • Ticker: BEP.UN
  • Exchange: TSX
  • Founded: 1999
  • Industry: Renewable Electricity
  • Sector: Utilities
  • Market Cap: CA$22.435b
  • Shares outstanding: 311.29m
  • Website: https://www.bep.brookfield.com

Number of Employees


Location

  • Brookfield Renewable Partners L.P.
  • Brookfield Place
  • Suite 300
  • Toronto
  • Ontario
  • M5J 2T3
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BXEDB (Deutsche Boerse AG)YesLimited Partnership UnitsDEEURNov 1999
BEP.UNTSX (The Toronto Stock Exchange)YesLimited Partnership UnitsCACADNov 1999
BEPNYSE (New York Stock Exchange)YesLimited Partnership UnitsUSUSDNov 1999
0JSELSE (London Stock Exchange)YesLimited Partnership UnitsGBCADNov 1999
BEP.PRGTSX (The Toronto Stock Exchange)PFD CL A SER 7CACADNov 2015
BREN.FOTCPK (Pink Sheets LLC)PFD CL A SER 7USUSDNov 2015
BEP.PRETSX (The Toronto Stock Exchange)PFD LTD CL ACACADFeb 2016
BEP.PRITSX (The Toronto Stock Exchange)PFD LP UNIT 9CACADMay 2016
BEP.PRKTSX (The Toronto Stock Exchange)PFD LTD A 11CACADFeb 2017
BEP.PRMTSX (The Toronto Stock Exchange)PFD UNIT SR 13CACADJan 2018
BEP.PROTSX (The Toronto Stock Exchange)5.75% PFD A 15CACADMar 2019

Biography

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. Brookfield Renewable Partners Limited operates as the general partner of Brookfield Renewable Partners L.P. The company was formerly known as Brookfield Renewable Energy Partners L.P. and changed its name to Brookfield Renewable Partners L.P. in May 2016. Brookfield Renewable Partners L.P. was founded in 1999 and is headquartered in Toronto, Canada. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 00:38
End of Day Share Price2020/02/14 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.