Invesco Ltd. Has $37.81 Million Position in Brookfield Renewable Partners L.P. $BEP

Key Points

• Invesco Ltd. increased its stake in Brookfield Renewable Partners by 13.6%, owning approximately 0.60% of the company worth about $37.8 million after acquiring an additional 204,176 shares.
• Brookfield Renewable Partners recently reported an earnings per share of ($0.22), falling short of analysts' expectations, though it had revenue of $1.69 billion for the quarter.
• The company declared a quarterly dividend of $0.373, equivalent to an annual yield of 6.0%, with dividends payable on September 30th.

Invesco Ltd. increased its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 13.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,706,128 shares of the utilities provider's stock after purchasing an additional 204,176 shares during the quarter. Invesco Ltd. owned approximately 0.60% of Brookfield Renewable Partners worth $37,808,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BEP. National Bank of Canada FI raised its position in shares of Brookfield Renewable Partners by 17.1% in the first quarter. National Bank of Canada FI now owns 2,466,957 shares of the utilities provider's stock valued at $54,395,000 after purchasing an additional 360,693 shares during the period. CCLA Investment Management raised its holdings in Brookfield Renewable Partners by 1.3% in the 1st quarter. CCLA Investment Management now owns 2,661,405 shares of the utilities provider's stock worth $58,923,000 after acquiring an additional 33,433 shares during the period. Bank of Nova Scotia Trust Co. lifted its position in Brookfield Renewable Partners by 0.5% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 149,221 shares of the utilities provider's stock worth $3,307,000 after acquiring an additional 726 shares during the last quarter. Commerce Bank bought a new stake in Brookfield Renewable Partners during the first quarter valued at about $5,127,000. Finally, Arkadios Wealth Advisors grew its position in shares of Brookfield Renewable Partners by 15.6% in the first quarter. Arkadios Wealth Advisors now owns 60,590 shares of the utilities provider's stock valued at $1,343,000 after purchasing an additional 8,191 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Price Performance

NYSE BEP traded up $0.0520 during trading on Thursday, reaching $24.7820. 413,929 shares of the company traded hands, compared to its average volume of 637,364. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -26.09 and a beta of 1.05. The stock's 50 day moving average price is $25.97 and its two-hundred day moving average price is $23.90. 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 (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 the consensus estimate of ($0.19) by ($0.03). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. As a group, analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced 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. This represents a $1.49 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is presently -156.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BEP. Raymond James Financial lowered Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Scotiabank increased their price target on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Finally, National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $30.11.

About Brookfield Renewable Partners

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.