Principal Financial Group Inc. Acquires 492,199 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Principal Financial Group Inc. lifted its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,344,041 shares of the utilities provider's stock after purchasing an additional 492,199 shares during the period. Principal Financial Group Inc. owned 2.94% of Brookfield Renewable Partners worth $184,904,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada raised its position in Brookfield Renewable Partners by 1.3% during the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider's stock valued at $375,248,000 after purchasing an additional 211,467 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Brookfield Renewable Partners by 4.7% during the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider's stock valued at $160,585,000 after buying an additional 315,272 shares during the period. Scotia Capital Inc. raised its holdings in shares of Brookfield Renewable Partners by 13.5% during the fourth quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider's stock valued at $61,433,000 after acquiring an additional 323,619 shares in the last quarter. Bank of Nova Scotia lifted its stake in Brookfield Renewable Partners by 31.8% in the fourth quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider's stock worth $53,263,000 after acquiring an additional 564,515 shares during the period. Finally, National Bank of Canada FI lifted its stake in Brookfield Renewable Partners by 102.4% in the fourth quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider's stock worth $48,023,000 after acquiring an additional 1,065,590 shares during the period. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Stock Down 0.3%

Shares of NYSE BEP traded down $0.08 on Monday, reaching $26.56. 524,800 shares of the company's stock traded hands, compared to its average volume of 575,578. The business's 50 day simple moving average is $24.46 and its two-hundred day simple moving average is $23.00. Brookfield Renewable Partners L.P. has a 12 month low of $19.29 and a 12 month high of $29.56. The company has a market cap of $7.54 billion, a price-to-earnings ratio of -26.30 and a beta of 0.99. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.90.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.15% and a negative net margin of 0.79%. The company had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.73 billion. As a group, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were issued a $0.373 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.49 annualized dividend and a yield of 5.62%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -147.52%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BEP. CIBC decreased their price objective on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating for the company in a report on Monday, May 5th. National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Wells Fargo & Company lowered their price objective 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. Finally, Barclays began coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.