Advisors Capital Management LLC Raises Position 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 boosted its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 44.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 393,847 shares of the utilities provider's stock after buying an additional 121,462 shares during the quarter. Advisors Capital Management LLC owned approximately 0.14% of Brookfield Renewable Partners worth $8,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake 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 valued at $25,000 after buying an additional 579 shares in the last quarter. Rossby Financial LCC purchased a new position in Brookfield Renewable Partners in the 1st quarter valued at about $41,000. NBC Securities Inc. purchased a new position in Brookfield Renewable Partners in the 1st quarter worth approximately $42,000. Northwestern Mutual Wealth Management Co. lifted 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 purchasing an additional 1,576 shares in the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new position in Brookfield Renewable Partners in the 1st quarter worth approximately $69,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BEP has been the topic of a number of research reports. Raymond James Financial lowered 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 note on Sunday, June 8th. Scotiabank raised their target price on shares of 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. National Bankshares raised 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 note on Tuesday, August 5th. Finally, CIBC raised their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $30.11.

Brookfield Renewable Partners Stock Down 0.3%

Shares of NYSE BEP opened at $25.07 on Friday. The company has a 50 day simple moving average of $25.80 and a 200-day simple moving average of $24.20. The company has a market capitalization of $7.12 billion, a P/E ratio of -26.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. 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 announced its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. On average, 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.0%. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -156.84%.

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.

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