Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Acquired by MAI Capital Management

MAI Capital Management grew its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 294.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,683 shares of the utilities provider’s stock after buying an additional 64,695 shares during the period. MAI Capital Management’s holdings in Brookfield Renewable Partners were worth $2,443,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. Clear Point Advisors Inc. purchased a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $49,000. Evermay Wealth Management LLC acquired a new stake in shares of Brookfield Renewable Partners in the first quarter valued at approximately $49,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at approximately $178,000. Finally, Creative Planning purchased a new position in shares of Brookfield Renewable Partners during the third quarter worth approximately $206,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

BEP opened at $25.32 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The business has a 50 day simple moving average of $26.62 and a 200-day simple moving average of $25.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter in the previous year, the company posted ($0.14) EPS. On average, research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Analyst Upgrades and Downgrades

BEP has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC raised their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Finally, StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.78.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.