Bank of Montreal Can Acquires 428,446 Shares of Brookfield Renewable Partners L.P. $BEP

Key Points

• Bank of Montreal increased its stake in Brookfield Renewable Partners by 6.5% in Q3, buying 428,446 shares to hold 6,978,958 shares (about 2.46% of the company) worth roughly $179.8 million, per its Form 13F filing.
• Analysts have a consensus rating of Moderate Buy with a $34.93 average price target; several firms raised targets recently (e.g., National Bank Financial to $34, Morgan Stanley to $38) and the street split is 11 Buys vs. 4 Holds.
• Brookfield Renewable reported a quarterly EPS beat ($0.54 vs. -$0.34 est.) and revenue beat, raised its quarterly dividend to $0.392 (annualized $1.57) for a ~5.1% yield, and has a market cap of about $8.72 billion with a 12‑month price range of $19.29–$32.78.

Bank of Montreal Can raised its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,978,958 shares of the utilities provider's stock after buying an additional 428,446 shares during the quarter. Bank of Montreal Can owned about 2.46% of Brookfield Renewable Partners worth $179,837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BEP. Russell Investments Group Ltd. acquired a new position in Brookfield Renewable Partners in the 2nd quarter worth $34,000. Root Financial Partners LLC bought a new stake in shares of Brookfield Renewable Partners in the third quarter valued at about $46,000. Hilltop National Bank lifted its holdings in shares of Brookfield Renewable Partners by 37.6% in the third quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 500 shares in the last quarter. JCIC Asset Management Inc. acquired a new position in shares of Brookfield Renewable Partners during the third quarter worth about $72,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Brookfield Renewable Partners during the third quarter worth about $81,000. Institutional investors and hedge funds own 63.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BEP shares. National Bank Financial lifted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an "outperform" rating in a research report on Monday, February 2nd. Desjardins raised Brookfield Renewable Partners to a "hold" rating in a research report on Wednesday, November 26th. Wall Street Zen raised shares of Brookfield Renewable Partners from a "sell" rating to a "hold" rating in a research note on Saturday. Morgan Stanley reiterated an "overweight" rating and issued a $38.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research report on Monday, December 29th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and a consensus price target of $34.93.

Brookfield Renewable Partners Stock Up 2.2%

NYSE:BEP opened at $30.73 on Wednesday. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $32.78. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of -118.18 and a beta of 1.13. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80. The stock's 50 day moving average price is $29.67 and its two-hundred day moving average price is $28.29.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of ($0.34) by $0.88. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.392 dividend. This is a boost from Brookfield Renewable Partners's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.1%. Brookfield Renewable Partners's payout ratio is -603.85%.

Brookfield Renewable Partners Profile

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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