CCLA Investment Management increased its stake in Brookfield Renewable Partners L.P. (NYSE:BEP – Free Report) (TSE:BEP) by 1.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,627,972 shares of the utilities provider’s stock after acquiring an additional 49,553 shares during the period. CCLA Investment Management’s holdings in Brookfield Renewable Partners were worth $59,838,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC raised its stake in shares of Brookfield Renewable Partners by 55.8% in the second quarter. Private Advisor Group LLC now owns 22,016 shares of the utilities provider’s stock valued at $545,000 after acquiring an additional 7,886 shares during the period. APG Asset Management N.V. grew its holdings in Brookfield Renewable Partners by 0.3% during the 2nd quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock valued at $40,327,000 after purchasing an additional 5,388 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Brookfield Renewable Partners by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock worth $6,988,000 after purchasing an additional 1,333 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Brookfield Renewable Partners in the second quarter worth about $359,000. Finally, GAMMA Investing LLC boosted its position in shares of Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on BEP. UBS Group upgraded 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. National Bankshares reduced their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Thursday, December 12th. Finally, CIBC lifted their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.44.
Brookfield Renewable Partners Stock Down 3.0 %
NYSE:BEP opened at $21.45 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 1-year low of $19.92 and a 1-year high of $29.56. The company has a 50-day moving average of $24.22 and a 200 day moving average of $25.15. The firm has a market cap of $6.12 billion, a PE ratio of -26.16 and a beta of 0.95.
Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last announced its quarterly earnings results 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). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the previous year, the company posted ($0.14) EPS. As a group, research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.88 EPS for the current fiscal year.
Brookfield Renewable Partners Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.355 per share. The ex-dividend date was Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 6.62%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.17%.
Brookfield Renewable Partners Company 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.
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