Credit Industriel ET Commercial Has $7.05 Million Holdings in Brookfield Renewable Partners L.P. $BEP

Key Points

• Credit Industriel ET Commercial increased its stake in Brookfield Renewable Partners by 19.4%, owning approximately $7.05 million worth of shares as of the latest SEC filing.
• The stock has seen a mixed response from analysts, with a consensus rating of "Moderate Buy" and an average price target of $30.00, despite some analysts issuing a sell rating.
• Brookfield Renewable Partners recently paid a quarterly dividend of $0.373 per share, yielding 5.4%, while its dividend payout ratio is notably negative at -156.84%.

Credit Industriel ET Commercial lifted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 19.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 276,500 shares of the utilities provider's stock after buying an additional 45,000 shares during the period. Brookfield Renewable Partners comprises approximately 0.6% of Credit Industriel ET Commercial's investment portfolio, making the stock its 24th biggest position. Credit Industriel ET Commercial owned approximately 0.10% of Brookfield Renewable Partners worth $7,054,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BEP. GAMMA Investing LLC increased its holdings in Brookfield Renewable Partners by 2,913.2% in the first quarter. GAMMA Investing LLC now owns 19,013 shares of the utilities provider's stock valued at $421,000 after purchasing an additional 18,382 shares during the period. Sowell Financial Services LLC acquired a new stake in Brookfield Renewable Partners in the first quarter valued at $213,000. Trifecta Capital Advisors LLC acquired a new stake in Brookfield Renewable Partners in the first quarter valued at $69,000. Cambridge Investment Research Advisors Inc. increased its holdings in Brookfield Renewable Partners by 16.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider's stock valued at $574,000 after purchasing an additional 3,722 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in 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 purchasing an additional 579 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Brookfield Renewable Partners in a report on Wednesday, October 8th. National Bankshares increased their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Mizuho upped their price target on shares of Brookfield Renewable Partners from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, September 26th. Finally, Raymond James Financial cut shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.00.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $27.78 on Tuesday. The stock has a market capitalization of $7.88 billion, a P/E ratio of -29.24 and a beta of 1.13. The firm's fifty day simple moving average is $25.58 and its two-hundred day simple moving average is $24.74. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. Brookfield Renewable Partners L.P. has a 12 month low of $19.29 and a 12 month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. As a group, analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th were given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is -156.84%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.