A. D. Beadell Investment Counsel Inc. decreased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 93.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,788 shares of the utilities provider's stock after selling 91,160 shares during the quarter. A. D. Beadell Investment Counsel Inc.'s holdings in Brookfield Renewable Partners were worth $235,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of BEP. BROOKFIELD Corp ON boosted its stake in Brookfield Renewable Partners by 9.4% during the fourth quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider's stock worth $2,192,842,000 after buying an additional 6,967,670 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Brookfield Renewable Partners by 128.0% in the fourth quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider's stock valued at $131,265,000 after acquiring an additional 2,732,542 shares during the period. Bank of Montreal Can raised its stake in shares of Brookfield Renewable Partners by 20.3% in the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider's stock valued at $226,859,000 after acquiring an additional 1,415,989 shares during the period. Morgan Stanley lifted its holdings in shares of Brookfield Renewable Partners by 41.9% in the 4th quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider's stock worth $108,663,000 after acquiring an additional 1,189,130 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Renewable Partners by 340.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,115,743 shares of the utilities provider's stock worth $30,207,000 after acquiring an additional 862,280 shares during the last quarter. Institutional investors own 63.16% of the company's stock.
Brookfield Renewable Partners Price Performance
BEP opened at $31.68 on Tuesday. Brookfield Renewable Partners L.P. has a 12-month low of $24.48 and a 12-month high of $38.12. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.87. The business's fifty day simple moving average is $33.19 and its 200-day simple moving average is $33.35. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of -68.87 and a beta of 1.11.
Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.56 billion. On average, equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.87 earnings per share for the current fiscal year.
Brookfield Renewable Partners Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.392 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a yield of 4.9%. Brookfield Renewable Partners's payout ratio is -341.30%.
Analysts Set New Price Targets
Several brokerages recently commented on BEP. Scotiabank reiterated an "outperform" rating and set a $42.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Friday, May 29th. National Bank Financial decreased their price objective on shares of Brookfield Renewable Partners from $39.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, August 5th. Wall Street Zen lowered Brookfield Renewable Partners from a "sell" rating to a "strong sell" rating in a research report on Sunday, May 10th. UBS Group reaffirmed a "buy" rating and set a $40.00 target price (up from $39.00) on shares of Brookfield Renewable Partners in a research note on Friday, June 12th. Finally, BMO Capital Markets set a $41.00 price target on Brookfield Renewable Partners in a report on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.14.
Check Out Our Latest Research Report on BEP
About Brookfield Renewable Partners
(
Free Report)
Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.
The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.
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