National Bank of Canada FI Grows Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• National Bank of Canada FI increased its stake in Brookfield Renewable Partners by 17.1%, now owning approximately 2.47 million shares valued at $54.4 million.
• Several analysts have issued conflicting ratings on Brookfield Renewable Partners, with one labeling it as a "strong-buy" while others have downgraded their ratings and adjusted price targets.
• The company reported a quarterly loss of ($0.22) EPS, missing estimates, despite revenue of $1.69 billion, and it recently declared a quarterly dividend yielding 6.0%.

National Bank of Canada FI lifted its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,466,957 shares of the utilities provider's stock after purchasing an additional 360,693 shares during the quarter. National Bank of Canada FI owned 0.87% of Brookfield Renewable Partners worth $54,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BEP. LPL Financial LLC increased its position in Brookfield Renewable Partners by 32.8% during the fourth quarter. LPL Financial LLC now owns 57,514 shares of the utilities provider's stock valued at $1,311,000 after acquiring an additional 14,194 shares during the last quarter. JPMorgan Chase & Co. increased its position in Brookfield Renewable Partners by 212.0% during the fourth quarter. JPMorgan Chase & Co. now owns 206,916 shares of the utilities provider's stock valued at $4,716,000 after acquiring an additional 140,604 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Brookfield Renewable Partners during the fourth quarter valued at $2,623,000. Rockefeller Capital Management L.P. increased its position in Brookfield Renewable Partners by 1.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 338,517 shares of the utilities provider's stock valued at $7,715,000 after acquiring an additional 3,897 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in Brookfield Renewable Partners by 0.5% during the fourth quarter. Advisors Capital Management LLC now owns 272,385 shares of the utilities provider's stock valued at $6,208,000 after acquiring an additional 1,292 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP traded down $0.49 during trading on Thursday, hitting $24.32. 647,990 shares of the company's stock were exchanged, compared to its average volume of 413,587. 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 52-week low of $19.29 and a 52-week high of $29.56. The business's 50-day simple moving average is $26.03 and its 200 day simple moving average is $23.79. The company has a market cap of $6.90 billion, a price-to-earnings ratio of -25.60 and a beta of 1.05.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its 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). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.64 billion. As a group, equities analysts predict 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. Investors of record on Friday, August 29th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 6.1%. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -156.84%.

Wall Street Analysts Forecast Growth

BEP has been the subject of a number of research reports. Raymond James Financial cut Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. National Bankshares upped their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. CIBC raised their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. decreased their price objective on Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company decreased their price objective on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and an average target price of $30.11.

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.