CCLA Investment Management Acquires 33,433 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• CCLA Investment Management has increased its holdings in Brookfield Renewable Partners by 1.3%, now owning approximately 2.66 million shares valued at nearly $58.92 million.
• Several institutional investors, including TD Asset Management and Texas Yale Capital Corp, have also significantly increased their stakes in Brookfield Renewable Partners during the first quarter.
• Brookfield Renewable Partners reported a loss of ($0.22) earnings per share for the recent quarter, missing expectations, while announcing a dividend of $0.373 set for payment on September 30th.

CCLA Investment Management boosted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,661,405 shares of the utilities provider's stock after purchasing an additional 33,433 shares during the period. CCLA Investment Management owned approximately 0.94% of Brookfield Renewable Partners worth $58,923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in shares of Brookfield Renewable Partners by 103.6% in the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock valued at $25,000 after buying an additional 579 shares in the last quarter. Rossby Financial LCC purchased a new stake in Brookfield Renewable Partners during the 1st quarter worth approximately $41,000. NBC Securities Inc. purchased a new position in shares of Brookfield Renewable Partners during the 1st quarter valued at approximately $42,000. Trifecta Capital Advisors LLC bought a new stake in shares of Brookfield Renewable Partners in the first quarter worth $69,000. Finally, Barclays PLC grew its holdings in Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock worth $183,000 after acquiring an additional 951 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

Analysts Set New Price Targets

BEP has been the topic of a number of recent research reports. Raymond James Financial downgraded shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. CIBC upped their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. Finally, Scotiabank upped their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.11.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded down $0.02 during mid-day trading on Thursday, reaching $25.71. 98,036 shares of the stock were exchanged, compared to its average volume of 639,771. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -27.02 and a beta of 1.05. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The company has a current ratio of 0.44, a quick ratio of 0.51 and a debt-to-equity ratio of 0.97. The firm has a 50-day simple moving average of $25.90 and a 200 day simple moving average of $23.61.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its earnings results on Friday, August 1st. The utilities provider reported ($0.22) 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 the consensus estimate of $1.64 billion. On average, sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable Partners's payout ratio is -156.84%.

Brookfield Renewable Partners 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.