GAMMA Investing LLC Purchases 18,382 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

GAMMA Investing LLC grew its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 2,913.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,013 shares of the utilities provider's stock after purchasing an additional 18,382 shares during the period. GAMMA Investing LLC's holdings in Brookfield Renewable Partners were worth $421,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BEP. AGF Management Ltd. raised its holdings in Brookfield Renewable Partners by 3,234.7% during the 4th quarter. AGF Management Ltd. now owns 1,588,410 shares of the utilities provider's stock valued at $36,681,000 after buying an additional 1,540,777 shares during the period. National Bank of Canada FI increased its position in Brookfield Renewable Partners by 102.4% during the fourth quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider's stock valued at $48,023,000 after acquiring an additional 1,065,590 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Brookfield Renewable Partners by 31.8% in the fourth quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider's stock valued at $53,263,000 after acquiring an additional 564,515 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Brookfield Renewable Partners by 28.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,927 shares of the utilities provider's stock valued at $33,687,000 after acquiring an additional 324,653 shares during the period. Finally, Scotia Capital Inc. lifted its holdings in shares of Brookfield Renewable Partners by 13.5% in the 4th quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider's stock worth $61,433,000 after acquiring an additional 323,619 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. CIBC cut their price target on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a report on Monday, May 5th. Barclays started coverage on Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 target price for the company. Wall Street Zen downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th. Wells Fargo & Company decreased their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of "Moderate Buy" and an average price target of $29.13.

Brookfield Renewable Partners Stock Down 1.9%

Shares of Brookfield Renewable Partners stock traded down $0.49 during trading on Friday, hitting $24.97. 609,888 shares of the stock traded hands, compared to its average volume of 576,073. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90. The stock's fifty day simple moving average is $23.65 and its 200 day simple moving average is $22.88. The firm has a market cap of $7.08 billion, a P/E ratio of -24.72 and a beta of 0.98. Brookfield Renewable Partners L.P. has a 52-week low of $19.29 and a 52-week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. The business had revenue of $907.00 million for the quarter, compared to analysts' expectations of $1.73 billion. On average, equities analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 annualized dividend and a yield of 5.98%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -147.52%.

Brookfield Renewable Partners Company 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.