NewGen Asset Management Ltd Purchases Shares of 250,000 Brookfield Renewable Partners L.P. (NYSE:BEP)

NewGen Asset Management Ltd purchased a new position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 250,000 shares of the utilities provider's stock, valued at approximately $5,540,000. Brookfield Renewable Partners comprises about 3.6% of NewGen Asset Management Ltd's portfolio, making the stock its 9th biggest holding. NewGen Asset Management Ltd owned approximately 0.09% of Brookfield Renewable Partners at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Promus Capital LLC acquired a new position in Brookfield Renewable Partners in the fourth quarter valued at $37,000. NBC Securities Inc. purchased a new stake in Brookfield Renewable Partners during the first quarter valued at about $42,000. Jones Financial Companies Lllp grew its position in Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after acquiring an additional 537 shares during the period. Allworth Financial LP purchased a new stake in Brookfield Renewable Partners during the fourth quarter valued at about $68,000. Finally, Steward Partners Investment Advisory LLC grew its position in Brookfield Renewable Partners by 81.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock valued at $71,000 after acquiring an additional 1,391 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Up 0.4%

NYSE BEP traded up $0.10 on Friday, hitting $26.16. 635,984 shares of the stock traded hands, compared to its average volume of 575,099. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average of $23.22 and a 200 day moving average of $22.87. The company has a market capitalization of $7.42 billion, a P/E ratio of -29.40 and a beta of 0.98. 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 results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. The company had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.73 billion. As a group, analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio (DPR) is -147.52%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. CIBC decreased their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating for the company in a research report on Monday, May 5th. National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. Barclays assumed coverage on Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 target price for the company. Wall Street Zen downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their target price on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.13.

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.