Unity's Line Renderer equivalent in UE 4.8+?

Is Beam Particle still the closest thing to Unity’s Line Renderer? I want to be able to create a Line between 2 points (not in the HUD and not a Debug Line) with multiple vertices I can control.

What is the best way of doing this currently?

A beam particle is the easiest method of doing this, however you could also technically use a cable actor.
See: Solid particle path line - FX - Unreal Engine Forums

I just published new plugin: Line Renderer Component:

You might want it helpful as it allows to manipulate lines as well as change line materials easily (and indeed color).