Guardian Partners Inc. Acquires New Holdings in Brookfield Renewable Partners L.P. $BEP

Key Points

• Guardian Partners Inc. acquired 167,244 shares of Brookfield Renewable Partners during the third quarter, worth approximately $4.72 million and representing about 0.06% of the company.
• Analysts maintain a generally positive outlook, with ten Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $37.14.
• Brookfield Renewable’s shares were trading at $29.18, while the company maintained a quarterly dividend of $0.392 per share, equivalent to a 5.4% annualized yield.

Guardian Partners Inc. bought a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 167,244 shares of the utilities provider's stock, valued at approximately $4,721,000. Guardian Partners Inc. owned approximately 0.06% of Brookfield Renewable Partners as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sowell Financial Services LLC bought a new stake in Brookfield Renewable Partners during the third quarter worth $270,000. Diversify Advisory Services LLC raised its position in Brookfield Renewable Partners by 1.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 27,068 shares of the utilities provider's stock valued at $776,000 after buying an additional 502 shares during the last quarter. Gold Investment Management Ltd. raised its position in Brookfield Renewable Partners by 3.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 110,904 shares of the utilities provider's stock valued at $3,123,000 after buying an additional 3,689 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Brookfield Renewable Partners by 5.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,125,447 shares of the utilities provider's stock valued at $31,986,000 after acquiring an additional 53,316 shares in the last quarter. Finally, Triasima Portfolio Management inc. bought a new position in Brookfield Renewable Partners during the 3rd quarter valued at $314,000. Hedge funds and other institutional investors own 63.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BEP. National Bank Financial set a $38.00 price objective on shares of Brookfield Renewable Partners and gave the stock an "outperform" rating in a report on Thursday, October 1st. Morgan Stanley lowered their target price on shares of Brookfield Renewable Partners from $42.00 to $37.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research report on Monday, September 21st. JPMorgan Chase & Co. dropped their price target on shares of Brookfield Renewable Partners from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $41.00 price target on shares of Brookfield Renewable Partners in a report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.14.

Brookfield Renewable Partners Trading Up 3.4%

NYSE:BEP opened at $29.18 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.87. The firm's 50 day moving average is $30.35 and its 200 day moving average is $32.82. Brookfield Renewable Partners L.P. has a 12 month low of $26.30 and a 12 month high of $38.12.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.56 billion. Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.87 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st were paid a dividend of $0.3920 per share. The ex-dividend date was Monday, August 31st. This represents a $1.57 annualized dividend and a dividend yield of 5.4%. Brookfield Renewable Partners's dividend payout ratio is presently -341.30%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a global renewable power and sustainable solutions company. The partnership develops, owns and operates a diversified portfolio of renewable energy facilities, with hydroelectric generation complemented by onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy transition assets.

Through its operating platforms, Brookfield Renewable supplies electricity and related energy services to utilities, corporations and other customers.

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