Gold Investment Management Ltd. grew its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 14.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,348 shares of the utilities provider's stock after buying an additional 11,354 shares during the quarter. Gold Investment Management Ltd.'s holdings in Brookfield Renewable Partners were worth $2,045,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. grew its stake in shares of Brookfield Renewable Partners by 31.3% during the fourth quarter. Bank of Nova Scotia Trust Co. now owns 148,495 shares of the utilities provider's stock valued at $3,384,000 after buying an additional 35,429 shares during the last quarter. Raymond James Financial Inc. bought a new position in Brookfield Renewable Partners in the fourth quarter worth approximately $2,623,000. SOA Wealth Advisors LLC. bought a new position in Brookfield Renewable Partners in the first quarter worth approximately $583,000. NINE MASTS CAPITAL Ltd grew its stake in Brookfield Renewable Partners by 240.0% in the fourth quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider's stock worth $3,135,000 after purchasing an additional 97,105 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 worth $33,687,000 after purchasing an additional 324,653 shares in the last quarter. Institutional investors own 63.16% of the company's stock.
Wall Street Analyst Weigh In
BEP has been the topic of several research analyst reports. CIBC dropped their price objective on Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday, May 5th. National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Wells Fargo & Company dropped 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. Finally, Barclays initiated coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.13.
Read Our Latest Research Report on Brookfield Renewable Partners
Brookfield Renewable Partners Stock Down 0.0%
NYSE BEP traded down $0.01 during midday trading on Friday, hitting $25.61. 352,350 shares of the company traded hands, compared to its average volume of 575,750. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $7.27 billion, a PE ratio of -25.36 and a beta of 0.98. The company's 50-day simple moving average is $24.06 and its 200-day simple moving average is $22.91. 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 announced its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The company had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. As a group, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.
Brookfield Renewable Partners Dividend Announcement
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 5.83%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -147.52%.
About Brookfield Renewable Partners
(
Free Report)
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.
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