Advisors Capital Management LLC Has $8.73 Million Stock Holdings in Brookfield Renewable Partners L.P. $BEP

Key Points

• Advisors Capital Management LLC increased its stake in Brookfield Renewable Partners L.P. by 44.6% during the first quarter, now holding approximately 0.14% of the company worth around $8.73 million.
• Brookfield Renewable Partners announced a quarterly dividend of $0.373 per share, translating to an annualized dividend of $1.49 and a dividend yield of 6.0%.
• The stock received mixed analyst ratings recently, with one firm downgrading it to a "moderate buy," while others raised their price targets, indicating a general consensus rating of "Buy" with a target of approximately $30.11.

Advisors Capital Management LLC lifted its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 44.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 393,847 shares of the utilities provider's stock after acquiring an additional 121,462 shares during the period. Advisors Capital Management LLC owned 0.14% of Brookfield Renewable Partners worth $8,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BEP. SCS Capital Management LLC acquired a new position in Brookfield Renewable Partners during the first quarter worth $15,939,000. TD Asset Management Inc raised its holdings in shares of Brookfield Renewable Partners by 30.1% in the 1st quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider's stock worth $65,866,000 after purchasing an additional 689,196 shares during the period. Principal Financial Group Inc. raised its holdings in Brookfield Renewable Partners by 6.3% in the first quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider's stock valued at $184,904,000 after buying an additional 492,199 shares during the period. Royal Bank of Canada lifted its position in Brookfield Renewable Partners by 2.3% during the first quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider's stock valued at $373,164,000 after buying an additional 374,087 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Brookfield Renewable Partners by 17.1% in the 1st quarter. National Bank of Canada FI now owns 2,466,957 shares of the utilities provider's stock valued at $54,395,000 after acquiring an additional 360,693 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Down 0.1%

Brookfield Renewable Partners stock traded down $0.01 during midday trading on Wednesday, reaching $25.62. The stock had a trading volume of 56,300 shares, compared to its average volume of 608,329. The firm's fifty day simple moving average is $25.75 and its two-hundred day simple moving average is $24.26. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of -26.96 and a beta of 1.04.

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

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be given a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 5.8%. Brookfield Renewable Partners's payout ratio is currently -156.84%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Raymond James Financial downgraded shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. CIBC boosted their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Brookfield Renewable Partners currently has a consensus rating of "Buy" and an average target price of $30.11.

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.