NewGen Asset Management Ltd Invests $5.54 Million in Brookfield Renewable Partners L.P. (NYSE:BEP)

NewGen Asset Management Ltd bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 250,000 shares of the utilities provider's stock, valued at approximately $5,540,000. Brookfield Renewable Partners makes up 3.6% of NewGen Asset Management Ltd's portfolio, making the stock its 9th largest position. NewGen Asset Management Ltd owned approximately 0.09% of Brookfield Renewable Partners as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BEP. Promus Capital LLC acquired a new stake in Brookfield Renewable Partners during the fourth quarter valued at $37,000. NBC Securities Inc. acquired a new stake in Brookfield Renewable Partners during the 1st quarter valued at $42,000. Jones Financial Companies Lllp boosted its position in Brookfield Renewable Partners by 26.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after buying an additional 537 shares during the last quarter. Allworth Financial LP bought a new position in shares of Brookfield Renewable Partners in the 4th quarter worth $68,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Brookfield Renewable Partners by 81.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock worth $71,000 after buying an additional 1,391 shares during the period. Institutional investors own 63.16% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. CIBC lowered their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th. Wall Street Zen cut Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th. Scotiabank upped their target price on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday. Finally, Wells Fargo & Company lowered their price target on shares of 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $29.13.

Brookfield Renewable Partners Trading Up 0.5%

NYSE BEP traded up $0.13 on Thursday, reaching $26.05. The company had a trading volume of 455,296 shares, compared to its average volume of 573,746. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The business has a 50 day moving average of $22.99 and a two-hundred day moving average of $22.88. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of -29.27 and a beta of 0.98.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued 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 business had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.73 billion. Analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a yield of 5.73%. Brookfield Renewable Partners's payout ratio is currently -147.52%.

About Brookfield Renewable Partners

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.