Brown Advisory Inc. Makes New $1.02 Million Investment in Brookfield Renewable Partners L.P. (NYSE:BEP)

Brown Advisory Inc. acquired a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,000 shares of the utilities provider's stock, valued at approximately $1,019,000.

Several other institutional investors have also added to or reduced their stakes in BEP. National Bank of Canada FI lifted its holdings in Brookfield Renewable Partners by 102.4% during the fourth quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider's stock valued at $48,023,000 after purchasing an additional 1,065,590 shares during the last quarter. Bank of Nova Scotia boosted its stake in Brookfield Renewable Partners by 31.8% in the 4th quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider's stock worth $53,263,000 after purchasing an additional 564,515 shares during the period. Principal Financial Group Inc. boosted its stake in Brookfield Renewable Partners by 6.3% in the 1st quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider's stock worth $184,904,000 after purchasing an additional 492,199 shares during the period. Scotia Capital Inc. boosted its stake in Brookfield Renewable Partners by 13.5% in the 4th quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider's stock worth $61,433,000 after purchasing an additional 323,619 shares during the period. Finally, Bank of Montreal Can boosted its stake in Brookfield Renewable Partners by 4.7% in the 4th quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider's stock worth $160,585,000 after purchasing an additional 315,272 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP traded up $0.10 during trading hours on Thursday, reaching $26.81. 238,524 shares of the stock traded hands, compared to its average volume of 579,918. The company has a market capitalization of $7.61 billion, a P/E ratio of -26.54 and a beta of 0.99. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.90. Brookfield Renewable Partners L.P. has a 52-week low of $19.29 and a 52-week high of $29.56. The company's 50-day simple moving average is $25.07 and its two-hundred day simple moving average is $23.19.

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 analysts' consensus estimates 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 return on equity of 0.15% and a negative net margin of 0.79%. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a $0.373 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a yield of 5.57%. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -147.52%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BEP. Barclays began coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 target price for the company. CIBC cut their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating for the company in a research note on Monday, May 5th. National Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 target price on shares of Brookfield Renewable Partners in a research note on Tuesday. Finally, Wells Fargo & Company dropped their price target on 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.56.

Brookfield Renewable Partners 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.