Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,616,911 shares of the utilities provider's stock after purchasing an additional 275,612 shares during the period. Ameriprise Financial Inc. owned approximately 0.57% of Brookfield Renewable Partners worth $36,849,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in Brookfield Renewable Partners in the 3rd quarter worth about $28,000. Promus Capital LLC bought a new position in Brookfield Renewable Partners during the 4th quarter worth about $37,000. Jones Financial Companies Lllp grew its holdings in Brookfield Renewable Partners by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock worth $59,000 after acquiring an additional 537 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter valued at about $68,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Brookfield Renewable Partners by 81.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock valued at $71,000 after buying an additional 1,391 shares in the last quarter. Institutional investors own 63.16% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. National Bankshares decreased their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.67.

Brookfield Renewable Partners Trading Up 1.3%

NYSE:BEP traded up $0.31 on Friday, reaching $24.43. 723,477 shares of the company's stock were exchanged, compared to its average volume of 561,533. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of -27.45 and a beta of 0.99. The business has a fifty day moving average of $22.45 and a 200-day moving average of $23.01. Brookfield Renewable Partners L.P. has a 52-week low of $19.29 and a 52-week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The company had revenue of $907.00 million during the quarter, compared to analysts' expectations of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. As a group, analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 6.11%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners's payout ratio is currently -147.52%.

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.