Groupe la Francaise Acquires 105,599 Shares of Brookfield Renewable Partners L.P. $BEP

Key Points

• Groupe la Française increased its Brookfield Renewable Partners stake by 194.5% in the first quarter, adding 105,599 shares to own 159,894 shares worth approximately $5.2 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $37.93, despite differing individual ratings.
• Brookfield Renewable reported quarterly revenue of $1.71 billion but missed earnings estimates, while declaring a quarterly dividend of $0.392 per share, representing a 4.8% annualized yield.

Groupe la Francaise increased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 194.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 159,894 shares of the utilities provider's stock after acquiring an additional 105,599 shares during the period. Groupe la Francaise owned about 0.05% of Brookfield Renewable Partners worth $5,214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Brookfield Renewable Partners by 57.0% during the first quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider's stock valued at $20,380,000 after acquiring an additional 333,789 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners during the second quarter worth $34,000. Cresset Asset Management LLC grew its holdings in shares of Brookfield Renewable Partners by 42.8% during the second quarter. Cresset Asset Management LLC now owns 20,031 shares of the utilities provider's stock worth $511,000 after purchasing an additional 6,000 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Brookfield Renewable Partners in the second quarter valued at $648,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Brookfield Renewable Partners by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 1,490,603 shares of the utilities provider's stock valued at $38,025,000 after buying an additional 62,774 shares in the last quarter. Institutional investors own 63.16% of the company's stock.

Wall Street Analysts Forecast Growth

BEP has been the topic of a number of research analyst reports. Barclays set a $30.00 price objective on shares of Brookfield Renewable Partners and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Wall Street Zen lowered shares of Brookfield Renewable Partners from a "sell" rating to a "strong sell" rating in a research report on Sunday, May 10th. TD Securities reissued a "buy" rating and set a $39.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $36.00 price target on shares of Brookfield Renewable Partners in a report on Tuesday, July 21st. Finally, UBS Group reaffirmed a "buy" rating and set a $40.00 price objective (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.93.

Brookfield Renewable Partners Trading Up 0.7%

BEP opened at $32.89 on Friday. The firm has a 50 day simple moving average of $34.33 and a 200 day simple moving average of $32.70. Brookfield Renewable Partners L.P. has a fifty-two week low of $24.13 and a fifty-two week high of $38.12. The company has a market cap of $9.87 billion, a price-to-earnings ratio of -106.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.02). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.56 billion. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -1.55 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, August 31st. Brookfield Renewable Partners's payout ratio is presently -506.45%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.

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