Kestra Private Wealth Services LLC Invests $222,000 in Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• Kestra Private Wealth Services LLC has acquired a new position in Brookfield Renewable Partners, purchasing 10,031 shares valued at approximately $222,000.
• Analysts have mixed ratings on Brookfield Renewable Partners with a consensus rating of "Moderate Buy" and an average target price of $29.89.
• The company recently reported a loss of $0.35 EPS, missing expectations, and announced a quarterly dividend of $0.373 per share, yielding 5.43%.

Kestra Private Wealth Services LLC acquired a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,031 shares of the utilities provider's stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BEP. Golden State Wealth Management LLC lifted its position 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 worth $25,000 after purchasing an additional 579 shares during the period. Rossby Financial LCC bought a new position in Brookfield Renewable Partners in the first quarter worth $41,000. NBC Securities Inc. bought a new position in Brookfield Renewable Partners in the first quarter worth $42,000. Trifecta Capital Advisors LLC bought a new position in Brookfield Renewable Partners in the first quarter worth $69,000. Finally, Barclays PLC lifted 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 purchasing an additional 951 shares during the period. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Trading Down 5.4%

BEP stock traded down $1.48 during midday trading on Friday, reaching $26.07. The stock had a trading volume of 249,781 shares, compared to its average volume of 648,804. The business has a fifty day simple moving average of $25.75 and a two-hundred day simple moving average of $23.49. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.90. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of -25.82 and a beta of 0.99. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.07. Brookfield Renewable Partners had a negative return on equity of 0.15% and a negative net margin of 0.79%. As a group, research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.7%. Brookfield Renewable Partners's payout ratio is -147.52%.

Wall Street Analyst Weigh In

Several research analysts recently commented on BEP shares. Scotiabank raised their target price on 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. cut their price objective on Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. CIBC lifted their price objective 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 raised Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. Finally, Wells Fargo & Company cut their price objective on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $29.89.

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.