Dividend Assets Capital LLC lifted its position in Brookfield Renewable Partners L.P. (NYSE:BEP – Get Rating) (TSE:BEP) by 1.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,754 shares of the utilities provider's stock after purchasing an additional 540 shares during the period. Dividend Assets Capital LLC's holdings in Brookfield Renewable Partners were worth $1,035,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Select Equity Group L.P. boosted its holdings in shares of Brookfield Renewable Partners by 1,466.1% in the fourth quarter. Select Equity Group L.P. now owns 1,134,275 shares of the utilities provider's stock valued at $40,596,000 after purchasing an additional 1,061,850 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of Brookfield Renewable Partners by 6.2% in the first quarter. Lake Street Advisors Group LLC now owns 1,243,072 shares of the utilities provider's stock valued at $51,053,000 after purchasing an additional 72,348 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Brookfield Renewable Partners by 0.9% in the first quarter. APG Asset Management N.V. now owns 776,757 shares of the utilities provider's stock valued at $28,678,000 after purchasing an additional 6,663 shares during the period. Avantax Advisory Services Inc. boosted its holdings in shares of Brookfield Renewable Partners by 6.0% in the first quarter. Avantax Advisory Services Inc. now owns 14,433 shares of the utilities provider's stock valued at $589,000 after purchasing an additional 817 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Brookfield Renewable Partners by 26.9% during the first quarter. 1832 Asset Management L.P. now owns 8,026,533 shares of the utilities provider's stock worth $325,361,000 after buying an additional 1,701,251 shares during the period. Hedge funds and other institutional investors own 57.87% of the company's stock.
Get Brookfield Renewable Partners alerts:Brookfield Renewable Partners Stock Down 2.2 %
Shares of NYSE BEP traded down $0.79 during mid-day trading on Friday, hitting $34.51. The stock had a trading volume of 360,832 shares, compared to its average volume of 248,504. 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 company has a 50 day moving average of $37.90 and a two-hundred day moving average of $37.13. Brookfield Renewable Partners L.P. has a twelve month low of $30.93 and a twelve month high of $41.95.
Brookfield Renewable Partners (NYSE:BEP – Get Rating) (TSE:BEP) last released its earnings results on Friday, August 5th. The utilities provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.12). Brookfield Renewable Partners had a net margin of 0.76% and a return on equity of 0.15%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $725.48 million. As a group, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -0.26 earnings per share for the current year.Brookfield Renewable Partners Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 31st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, August 30th. Brookfield Renewable Partners's payout ratio is -246.15%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Brookfield Renewable Partners from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, August 8th. National Bankshares upped their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, August 8th. TheStreet upgraded Brookfield Renewable Partners from a "d+" rating to a "c-" rating in a report on Friday, August 5th. Royal Bank of Canada upped their target price on Brookfield Renewable Partners from $39.00 to $43.00 and gave the stock a "sector perform" rating in a report on Monday, August 8th. Finally, Wells Fargo & Company upped their target price on Brookfield Renewable Partners from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Monday, August 8th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.55.
About Brookfield Renewable Partners
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Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.
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