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Brookfield Renewable Partners
(TSX:BEP.UN)
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Rating:51Neutral
Price Target:
C$41.00
▼(-9.39% Downside)
Action:Reiterated
Date:08/02/26
The score is held back primarily by weak financial performance—very high leverage and persistently negative free cash flow alongside a sharp TTM revenue decline. Offsetting factors include a constructive earnings call with strong FFO growth, visible development/contracting momentum, and highlighted liquidity/capital recycling plans. Technicals and valuation are mixed, with a high P/E partly balanced by a solid dividend yield.
Positive Factors
FFO growth
Strong quarterly and trailing-twelve-month FFO growth indicates that Brookfield Renewable is expanding distributable earnings across its operating platform. Continued per-unit growth can strengthen funding capacity and support investment in new assets over the next several quarters.
Negative Factors
Very high leverage
The sharply higher debt burden increases financial risk relative to the equity base and reduces flexibility if operating conditions weaken. Elevated leverage can also constrain future investment, increase financing sensitivity, and make earnings more vulnerable to capital costs.
Read all positive and negative factors
Positive Factors
Negative Factors
FFO growth
Strong quarterly and trailing-twelve-month FFO growth indicates that Brookfield Renewable is expanding distributable earnings across its operating platform. Continued per-unit growth can strengthen funding capacity and support investment in new assets over the next several quarters.
Read all positive factors
Brookfield Renewable Partners (BEP.UN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$28.50B
Dividend Yield5.1%
Average Volume (3M)356.56K
Price to Earnings (P/E)64.7
Beta (1Y)0.67
Revenue Growth5.92%
EPS Growth52.60%
CountryCA
Employees5,870
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.46
Shares Outstanding300,111,630
10 Day Avg. Volume459,304
30 Day Avg. Volume356,563
Financial Highlights & Ratios
PEG Ratio4.33
Price to Book (P/B)1.68
Price to Sales (P/S)1.19
P/FCF Ratio-1.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$52.77Price Target Upside16.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-1.36
Revenue Forecast (FY)C$6.69B
Brookfield Renewable Partners Business Overview & Revenue Model
Company Description
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities in the North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped stora...
How the Company Makes Money
Brookfield Renewable Partners makes money primarily by generating electricity from its renewable assets and selling that power to customers under a mix of long-term contracts and merchant (market-priced) arrangements. A substantial portion of reve...
Brookfield Renewable Partners Earnings Call Summary
Earnings Call Date:Jul 31, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 30, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operational and financial accomplishments: record FFO growth, robust development and contracting (1.3 GW commissioned; 2.6 GW PPAs), aggressive capital deployment including the strategic IPA acquisition to materially expand battery storage scale, sizable capital recycling proceeds (~$2.2B) and best-in-class financing and liquidity ($12B financings; $5.1B liquidity). Management also highlighted major upside from Westinghouse and DOE-backed nuclear financing. Offsetting these positives are headwinds including weaker U.S. hydro hydrology, a rising contribution of realized asset sale gains to other income (raising questions about recurring FFO mix), short-term battery input-cost/LCOE volatility, grid supply constraints, and execution/approval risks around large nuclear projects and corporate simplification vote thresholds. Overall, highlights substantially outweigh the lowlights, reflecting strong growth, balance sheet strength, and strategic positioning despite some operational and execution risks.Positive Updates
Record Quarterly and Trailing Twelve-Month FFO Growth
Q2 FFO of $421 million, up 13% year-over-year; FFO per unit $0.62, up 11% year-over-year. Last 12 months FFO of $1.444 billion, or $2.14 per unit, up 14% and 11% respectively versus prior year.
Negative Updates
Weaker Hydrology in U.S. Hydro Operations
U.S. hydro results were negatively impacted by weaker hydrology during the quarter, partially offset by realized gains and stronger Canadian and Colombian performance; no percentage disclosed but cited as a headwind to hydro segment performance.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly and Trailing Twelve-Month FFO Growth
Q2 FFO of $421 million, up 13% year-over-year; FFO per unit $0.62, up 11% year-over-year. Last 12 months FFO of $1.444 billion, or $2.14 per unit, up 14% and 11% respectively versus prior year.
Read all positive updates
Company Guidance
Management guided that the business will continue to scale development, contracting, storage and nuclear opportunities backed by tangible metrics: Q2 FFO was $421M ($0.62/unit, +13% YoY, +11% per unit) and LTM FFO was $1.444B ($2.14/unit), the company commissioned 1.3 GW in the quarter, signed 2.6 GW of PPAs from its advanced pipeline, and deployed/committed $5B of growth capital ($760M net to BEP) including the announced $3B IPA acquisition (~$420M net); IPA brings ~3 GW operating/under‑construction, 3.5 GW contracted and >20 GW of pipeline, doubling operating/UC battery capacity to ~6 GW and expanding the development pipeline by >30% to >80 GW. They expect continued capital recycling to generate ~ $2.2B of proceeds (~$630M net to BEP) (including sales of a 570 MW portfolio, the 2.1 GW Northview sale and additional Maine and Colombia transactions), to advance Westinghouse opportunities supported by a DOE commitment of up to $17.5B for long‑lead equipment for up to 10 AP1000 reactors (part of an ~ $80B U.S. deployment partnership), and to fund growth from a strong balance sheet after completing ~ $12B of financings and ending the quarter with > $5.1B of available liquidity (highlighted by a ~ $1.2B Safe Harbor refinancing that produced $700M of upfinancing, $200M net to BEP, Neoen’s €650M bond and a C$200M preferred issuance), while pursuing a BEP/BEPC simplification (two‑thirds vote required; Brookfield holders ~47% look‑through at the Partners level and ~10% at the Corporation level) targeted to close by year‑end.Brookfield Renewable Partners Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
28
Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.34B | 6.52B | 5.88B | 5.04B | 4.71B | 4.10B |
| Gross Profit | 1.55B | 1.10B | 3.30B | 3.10B | 3.28B | 2.73B |
| EBITDA | 4.54B | 5.07B | 3.80B | 4.06B | 2.96B | 2.44B |
| Net Income | 144.54M | -19.33M | -218.00M | -50.00M | -122.00M | -136.00M |
Balance Sheet | ||||||
| Total Assets | 96.63B | 98.52B | 94.81B | 76.13B | 64.11B | 55.87B |
| Cash, Cash Equivalents and Short-Term Investments | 2.77B | 2.67B | 3.70B | 1.36B | 1.24B | 987.00M |
| Total Debt | 36.94B | 35.73B | 35.90B | 30.92B | 25.73B | 21.99B |
| Total Liabilities | 60.82B | 63.61B | 58.35B | 46.15B | 37.83B | 31.87B |
| Stockholders Equity | 4.38B | 4.60B | 9.75B | 10.53B | 10.96B | 11.08B |
Cash Flow | ||||||
| Free Cash Flow | -4.72B | -5.18B | -2.34B | -961.31M | -460.02M | -1.22B |
| Operating Cash Flow | 1.39B | 1.52B | 1.21B | 1.90B | 1.64B | 727.54M |
| Investing Cash Flow | -3.41B | -10.02B | -4.54B | -2.05B | -3.16B | -1.80B |
| Financing Cash Flow | 2.25B | 7.40B | 5.35B | 255.60M | 1.63B | 1.44B |
Brookfield Renewable Partners Technical Analysis
Negative
45.25
Price Trends
44.32
Negative
46.04
Negative
43.30
Negative
Market Momentum
-1.00
Positive
42.44
Neutral
44.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BEP.UN, the sentiment is Negative. The current price of 45.25 is above the 20-day moving average (MA) of 42.70, above the 50-day MA of 44.32, and above the 200-day MA of 43.30, indicating a bearish trend. The MACD of -1.00 indicates Positive momentum. The RSI at 42.44 is Neutral, neither overbought nor oversold. The STOCH value of 44.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:BEP.UN.
Brookfield Renewable Partners Risk Analysis
Brookfield Renewable Partners disclosed 1 risk factors in its most recent earnings report. Brookfield Renewable Partners reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Brookfield Renewable Partners Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
60 Neutral | C$291.03M | 50.85 | 1.73% | 5.94% | -1.18% | ― | |
60 Neutral | C$5.70B | -40.25 | -3.46% | 3.79% | 15.39% | -180.64% | |
54 Neutral | C$807.45M | 6,796.87 | 0.20% | ― | 23.90% | ― | |
51 Neutral | C$28.50B | 64.74 | 2.64% | 5.10% | 5.92% | 52.60% | |
49 Neutral | C$5.67B | 28.62 | 3.20% | 4.89% | 5.62% | ― |
* Utilities Sector Average
TSE:BEP.UN
Brookfield Renewable Partners
41.94
8.12
24.00%
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Brookfield Renewable Partners Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Brookfield Renewable Raises C$750 Million in New Green Bond Offering
Positive
Aug 21, 2026
Brookfield Renewable has agreed to issue C$750 million of green medium-term notes in two tranches, a C$400 million Series 21 due 2036 with a 4.949% coupon and a C$350 million Series 22 due 2031 with a 4.256% coupon, to be issued by Brookfield Rene...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.