Northwest & Ethical Investments L.P. Purchases Shares of 80,303 Brookfield Renewable Partners L.P. (NYSE:BEP)

Northwest & Ethical Investments L.P. purchased a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 80,303 shares of the utilities provider’s stock, valued at approximately $2,261,000.

Several other institutional investors also recently modified their holdings of BEP. GAMMA Investing LLC increased its holdings in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares in the last quarter. Waverton Investment Management Ltd bought a new position in shares of Brookfield Renewable Partners in the third quarter valued at $178,000. Creative Planning acquired a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $206,000. Cadence Bank acquired a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $212,000. Finally, Aspiriant LLC acquired a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $241,000. Institutional investors own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BEP shares. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Finally, CIBC boosted their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Trading Up 0.2 %

Brookfield Renewable Partners stock opened at $26.03 on Friday. The company’s fifty day simple moving average is $26.56 and its 200-day simple moving average is $25.91. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The stock has a market cap of $7.42 billion, a P/E ratio of -31.74 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the prior year, the company posted ($0.14) earnings per share. As a group, sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Brookfield Renewable Partners 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.