7,521 Shares in Brookfield Renewable Partners L.P. (NYSE:BEP) Acquired by Cadence Bank

Cadence Bank acquired a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,521 shares of the utilities provider’s stock, valued at approximately $212,000.

A number of other large investors have also bought and sold shares of the company. Intact Investment Management Inc. purchased a new stake in Brookfield Renewable Partners during the third quarter valued at about $42,331,000. Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at approximately $16,936,000. Liontrust Investment Partners LLP bought a new position in Brookfield Renewable Partners in the 2nd quarter worth approximately $14,862,000. Price T Rowe Associates Inc. MD grew its stake in Brookfield Renewable Partners by 103.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock valued at $27,214,000 after buying an additional 595,335 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Brookfield Renewable Partners by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after acquiring an additional 330,648 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Up 2.4 %

Shares of BEP opened at $26.34 on Friday. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a market capitalization of $7.51 billion, a P/E ratio of -32.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $26.57 and its 200 day simple moving average is $25.92.

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

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.17%.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable Partners Profile

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.