Millburn Ridgefield Corp raised its stake in Brookfield Renewable Partners L.P. (NYSE:BEP – Get Rating) (TSE:BEP) by 31.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,534 shares of the utilities provider's stock after purchasing an additional 2,059 shares during the quarter. Millburn Ridgefield Corp's holdings in Brookfield Renewable Partners were worth $297,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dividend Assets Capital LLC boosted its position in shares of Brookfield Renewable Partners by 1.8% during the 2nd quarter. Dividend Assets Capital LLC now owns 29,754 shares of the utilities provider's stock worth $1,035,000 after purchasing an additional 540 shares in the last quarter. Carnegie Capital Asset Management LLC purchased a new stake in Brookfield Renewable Partners during the second quarter worth about $299,000. Cambridge Investment Research Advisors Inc. grew its position in Brookfield Renewable Partners by 10.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,123 shares of the utilities provider's stock worth $491,000 after buying an additional 1,288 shares during the period. Walnut Private Equity Partners LLC increased its holdings in Brookfield Renewable Partners by 3.8% in the second quarter. Walnut Private Equity Partners LLC now owns 118,804 shares of the utilities provider's stock valued at $4,134,000 after buying an additional 4,374 shares in the last quarter. Finally, Select Equity Group L.P. lifted its position in shares of Brookfield Renewable Partners by 131.3% during the 1st quarter. Select Equity Group L.P. now owns 2,623,915 shares of the utilities provider's stock valued at $107,764,000 after acquiring an additional 1,489,640 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.
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NYSE:BEP opened at $32.95 on Tuesday. The company has a market cap of $9.07 billion, a P/E ratio of -63.37 and a beta of 0.70. The firm's 50 day moving average is $37.84 and its two-hundred day moving average is $37.03. Brookfield Renewable Partners L.P. has a fifty-two week low of $30.93 and a fifty-two week high of $41.95. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93.
Brookfield Renewable Partners (NYSE:BEP – Get Rating) (TSE:BEP) last released its quarterly earnings data on Friday, August 5th. The utilities provider reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.12). Brookfield Renewable Partners had a return on equity of 0.15% and a net margin of 0.76%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $725.48 million. Analysts expect that Brookfield Renewable Partners L.P. will post -0.26 EPS 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. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Tuesday, August 30th. Brookfield Renewable Partners's payout ratio is currently -246.15%.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on BEP shares. TheStreet raised Brookfield Renewable Partners from a "d+" rating to a "c-" rating in a research note on Friday, August 5th. National Bankshares lifted their price target on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an "outperform" rating in a research note on Monday, August 8th. Royal Bank of Canada increased their price objective on shares of Brookfield Renewable Partners from $39.00 to $43.00 and gave the company a "sector perform" rating in a research note on Monday, August 8th. Wells Fargo & Company lifted their target price on shares of Brookfield Renewable Partners from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Monday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Brookfield Renewable Partners from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, August 8th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $42.40.
Brookfield Renewable Partners Profile
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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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