Brookfield Renewable Partners L.P. $BEP Shares Purchased by Intact Investment Management Inc.

Key Points

• Intact Investment Management raised its stake in Brookfield Renewable by 45.3% in Q4, buying 360,820 shares to hold 1,156,587 shares (about 0.38% of the partnership) worth roughly $31.25 million, while institutional ownership stands at about 63.16% with several other funds also increasing positions.
• Brookfield Renewable declared a quarterly dividend of $0.392 ($1.57 annualized) implying a ~4.7% yield
• The firm missed quarterly EPS (‑$0.40 vs. consensus ‑$0.36) on revenue roughly in line at $1.51 billion, and analysts remain mixed with a consensus rating of "Moderate Buy" and an average price target of $35.93 (individual targets range from ~$28 to $42).

Intact Investment Management Inc. boosted its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 45.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,156,587 shares of the utilities provider's stock after purchasing an additional 360,820 shares during the quarter. Intact Investment Management Inc. owned about 0.38% of Brookfield Renewable Partners worth $31,253,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BEP. Principal Financial Group Inc. raised its stake in Brookfield Renewable Partners by 16.2% in the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider's stock valued at $261,189,000 after purchasing an additional 1,414,837 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Brookfield Renewable Partners in the 3rd quarter valued at $19,944,000. Picton Mahoney Asset Management raised its stake in Brookfield Renewable Partners by 95.6% in the 3rd quarter. Picton Mahoney Asset Management now owns 1,070,639 shares of the utilities provider's stock valued at $27,589,000 after purchasing an additional 523,263 shares during the last quarter. Bank of Montreal Can raised its stake in Brookfield Renewable Partners by 6.5% in the 3rd quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider's stock valued at $179,837,000 after purchasing an additional 428,446 shares during the last quarter. Finally, UBS Group AG raised its stake in Brookfield Renewable Partners by 50.2% in the 3rd quarter. UBS Group AG now owns 1,196,648 shares of the utilities provider's stock valued at $30,862,000 after purchasing an additional 400,052 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 0.1%

Shares of NYSE:BEP opened at $33.33 on Monday. The business has a 50-day moving average price of $32.40 and a 200 day moving average price of $30.10. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of -107.51 and a beta of 1.06. Brookfield Renewable Partners L.P. has a 12-month low of $22.17 and a 12-month high of $35.97.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.04). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.59% and a net margin of 8.28%. Sell-side analysts expect that Brookfield Renewable Partners L.P. will post -1.18 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -506.45%.

Wall Street Analyst Weigh In

Several research analysts recently commented on BEP shares. Barclays set a $28.00 price objective on Brookfield Renewable Partners and gave the company an "equal weight" rating in a research note on Friday, January 23rd. Morgan Stanley raised their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an "overweight" rating in a research note on Monday, March 23rd. Wall Street Zen downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Saturday. Zacks Research raised Brookfield Renewable Partners from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 6th. Finally, National Bank Financial raised their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.93.

About Brookfield Renewable Partners

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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