Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Bought by CCLA Investment Management

CCLA Investment Management raised its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,578,419 shares of the utilities provider’s stock after purchasing an additional 47,734 shares during the quarter. CCLA Investment Management owned 0.90% of Brookfield Renewable Partners worth $63,952,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Triasima Portfolio Management inc. purchased a new position in Brookfield Renewable Partners in the 2nd quarter valued at $16,936,000. SFE Investment Counsel boosted its holdings in shares of Brookfield Renewable Partners by 3.1% in the second quarter. SFE Investment Counsel now owns 51,927 shares of the utilities provider’s stock valued at $1,286,000 after acquiring an additional 1,580 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Brookfield Renewable Partners by 55.8% during the second quarter. Private Advisor Group LLC now owns 22,016 shares of the utilities provider’s stock worth $545,000 after acquiring an additional 7,886 shares during the period. TD Asset Management Inc raised its holdings in Brookfield Renewable Partners by 2.9% during the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after purchasing an additional 67,777 shares in the last quarter. Finally, Fiera Capital Corp lifted its position in Brookfield Renewable Partners by 11.2% in the second quarter. Fiera Capital Corp now owns 42,016 shares of the utilities provider’s stock valued at $1,040,000 after purchasing an additional 4,247 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $26.31 on Wednesday. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $28.81. The stock has a market cap of $7.50 billion, a P/E ratio of -57.18 and a beta of 0.93. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average of $24.76 and a two-hundred day moving average of $24.61.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, research analysts predict that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.40%. Brookfield Renewable Partners’s dividend payout ratio is currently -308.70%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Scotiabank increased their price target on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 12th. Finally, TD Securities raised their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus target price of $31.82.

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.