57,402 Shares in Brookfield Renewable Partners L.P. $BEP Purchased by Gunderson Capital Management Inc.

Key Points

• Gunderson Capital Management Inc. purchased 57,402 shares of Brookfield Renewable Partners L.P. in the second quarter, valued at approximately $1.46 million.
• Analysts have raised their price targets for Brookfield Renewable Partners, with JPMorgan increasing it from $30.00 to $32.00 and Scotiabank from $29.00 to $30.00, indicating positive sentiment towards the stock.
• The company's recent quarterly earnings report showed a loss of ($0.22) per share, missing estimates, while revenue of $1.69 billion exceeded expectations.

Gunderson Capital Management Inc. bought a new position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 57,402 shares of the utilities provider's stock, valued at approximately $1,464,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Blair William & Co. IL acquired a new position in Brookfield Renewable Partners during the 2nd quarter worth $476,000. Hilltop National Bank bought a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at about $34,000. Gold Investment Management Ltd. grew its position in shares of Brookfield Renewable Partners by 3.0% during the 2nd quarter. Gold Investment Management Ltd. now owns 95,158 shares of the utilities provider's stock worth $2,426,000 after buying an additional 2,810 shares during the period. SOA Wealth Advisors LLC. boosted its stake in Brookfield Renewable Partners by 7.4% in the second quarter. SOA Wealth Advisors LLC. now owns 28,270 shares of the utilities provider's stock valued at $721,000 after acquiring an additional 1,945 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Brookfield Renewable Partners by 17.3% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 28,850 shares of the utilities provider's stock worth $736,000 after acquiring an additional 4,250 shares during the period. Institutional investors and hedge funds own 63.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Scotiabank lifted their price objective on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Brookfield Renewable Partners in a research report on Wednesday. National Bankshares boosted their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, CIBC increased their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Brookfield Renewable Partners Stock Down 2.5%

Shares of Brookfield Renewable Partners stock opened at $27.24 on Friday. The firm has a market cap of $7.73 billion, a PE ratio of -28.67 and a beta of 1.13. The business's 50 day simple moving average is $25.53 and its 200 day simple moving average is $24.65. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.44 and a current ratio of 0.44. 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 issued its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. On average, analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were paid a dividend of $0.373 per share. The ex-dividend date was Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.5%. Brookfield Renewable Partners's dividend payout ratio is currently -156.84%.

Brookfield Renewable Partners Company 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.

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