HighTower Advisors LLC Increases Stock Position in Brookfield Renewable Partners L.P. $BEP

Key Points

• HighTower Advisors LLC increased its holdings in Brookfield Renewable Partners L.P. by 37.3% during the first quarter, owning 66,649 shares valued at approximately $1.48 million.
• Brookfield Renewable Partners recently reported a quarterly earnings miss with an EPS of ($0.22), falling short of the consensus estimate of ($0.19), although revenue reached $1.69 billion.
• The company declared a quarterly dividend of $0.373 per share, set to be paid on September 30, which represents an annual yield of 5.9%.

HighTower Advisors LLC lifted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 37.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,649 shares of the utilities provider's stock after purchasing an additional 18,095 shares during the quarter. HighTower Advisors LLC's holdings in Brookfield Renewable Partners were worth $1,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC raised its stake in shares of Brookfield Renewable Partners by 103.6% during 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 in the last quarter. Rossby Financial LCC bought a new stake in Brookfield Renewable Partners in the first quarter worth about $41,000. NBC Securities Inc. bought a new stake in Brookfield Renewable Partners in the first quarter worth about $42,000. Trifecta Capital Advisors LLC bought a new stake in Brookfield Renewable Partners in the first quarter worth about $69,000. Finally, Barclays PLC raised its position in Brookfield Renewable Partners by 13.5% in the fourth 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. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Price Performance

BEP stock traded down $0.53 during mid-day trading on Friday, reaching $25.36. The company's stock had a trading volume of 478,849 shares, compared to its average volume of 461,837. The stock has a market cap of $7.20 billion, a PE ratio of -26.69 and a beta of 1.05. 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 fifty-two week low of $19.29 and a fifty-two week high of $29.56. The company's 50 day moving average is $25.91 and its two-hundred day moving average is $24.07.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.9%. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -156.84%.

Analysts Set New Price Targets

Several brokerages have commented on BEP. Scotiabank boosted their price target on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. dropped 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. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. 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. Finally, CIBC lifted their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of "Buy" and an average target price of $30.11.

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.