Northern Right Capital Management L.P. Takes Position in Brookfield Renewable Partners L.P. $BEP

Key Points

• Northern Right Capital Management L.P. acquired 39,262 shares of Brookfield Renewable Partners L.P. (BEP), valued at approximately $870,000, making it the 23rd largest holding in their portfolio.
• Several institutional investors, including Golden State Wealth Management and Bank of Nova Scotia Trust, have also increased their stakes in Brookfield Renewable Partners, resulting in institutional ownership now at 63.16%.
• Brookfield Renewable Partners recently reported earnings of (\$0.22) per share, missing estimates, and announced a quarterly dividend of $0.373, equating to a 5.9% dividend yield.

Northern Right Capital Management L.P. bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 39,262 shares of the utilities provider's stock, valued at approximately $870,000. Brookfield Renewable Partners comprises about 0.4% of Northern Right Capital Management L.P.'s holdings, making the stock its 23rd largest position.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in Brookfield Renewable Partners by 103.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock worth $25,000 after buying an additional 579 shares during the period. Rossby Financial LCC acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter worth $41,000. NBC Securities Inc. acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter worth $42,000. Northwestern Mutual Wealth Management Co. raised its stake in Brookfield Renewable Partners by 136.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider's stock worth $60,000 after acquiring an additional 1,576 shares during the last quarter. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Brookfield Renewable Partners in the first quarter worth $69,000. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Price Performance

Shares of BEP traded down $0.21 during mid-day trading on Friday, reaching $24.76. 156,474 shares of the stock traded hands, compared to its average volume of 622,058. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -26.07 and a beta of 1.04. The firm has a fifty day moving average price of $25.88 and a 200 day moving average price of $24.13. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%.The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.64 billion. As a group, equities research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -156.84%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BEP. Scotiabank increased their price objective on Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 18th. CIBC increased their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research report on Monday, July 21st. National Bankshares increased their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Raymond James Financial cut Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, National Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Brookfield Renewable Partners presently has a consensus rating of "Buy" and an average price target of $30.11.

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.