Northwest & Ethical Investments L.P. Buys 25,329 Shares of Brookfield Renewable Partners L.P. $BEP

Key Points

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Northwest & Ethical Investments L.P. grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 30.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,354 shares of the utilities provider's stock after acquiring an additional 25,329 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Brookfield Renewable Partners were worth $2,378,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BEP. Raymond James Financial Inc. bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $2,623,000. Barclays PLC lifted its position in shares of Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock worth $183,000 after buying an additional 951 shares during the period. Natixis bought a new position in shares of Brookfield Renewable Partners during the 4th quarter worth approximately $949,000. TD Waterhouse Canada Inc. lifted its position in shares of Brookfield Renewable Partners by 17.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 681,400 shares of the utilities provider's stock worth $15,398,000 after buying an additional 98,966 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Brookfield Renewable Partners during the 4th quarter worth approximately $346,000. Institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Trading Up 2.6%

Shares of NYSE BEP traded up $0.6520 during midday trading on Friday, hitting $25.4220. The stock had a trading volume of 388,116 shares, compared to its average volume of 472,596. The company's 50-day simple moving average is $25.93 and its 200 day simple moving average is $23.96. The firm has a market cap of $7.22 billion, a P/E ratio of -26.76 and a beta of 1.05. 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 has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its earnings results on Friday, August 1st. The utilities provider reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. Research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on BEP shares. Raymond James Financial downgraded Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. National Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. 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. dropped their price target 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. Finally, CIBC raised their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $30.11.

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.