Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Acquired by SFE Investment Counsel

SFE Investment Counsel grew its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,526 shares of the utilities provider’s stock after buying an additional 2,115 shares during the period. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BEP. Principal Financial Group Inc. grew its position in Brookfield Renewable Partners by 1.2% in the second quarter. Principal Financial Group Inc. now owns 3,587,304 shares of the utilities provider’s stock worth $138,361,000 after buying an additional 42,260 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Brookfield Renewable Partners by 14.0% during the second quarter. Rockefeller Capital Management L.P. now owns 202,857 shares of the utilities provider’s stock valued at $7,823,000 after buying an additional 24,877 shares during the last quarter. JTC Employer Solutions Trusteee Ltd bought a new stake in Brookfield Renewable Partners in the second quarter valued at about $26,000. Centaurus Financial Inc. bought a new stake in Brookfield Renewable Partners in the second quarter valued at about $364,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Brookfield Renewable Partners by 745.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,946,186 shares of the utilities provider’s stock worth $75,191,000 after buying an additional 1,715,930 shares during the last quarter. 54.81% of the stock is currently owned by institutional investors.

BEP has been the topic of several analyst reports. Mizuho increased their price objective on shares of Brookfield Renewable Partners from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 25th. They noted that the move was a valuation call. Tudor Pickering & Holt set a $44.00 price objective on shares of Brookfield Renewable Partners and gave the company a “buy” rating in a research report on Thursday, August 5th. TheStreet raised shares of Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research report on Tuesday, August 17th. Zacks Investment Research upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Friday, August 6th. Finally, Barclays raised their target price on shares of Brookfield Renewable Partners from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, August 6th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Hold” and an average price target of $41.89.

BEP traded down $0.32 on Wednesday, reaching $39.01. The company had a trading volume of 7,976 shares, compared to its average volume of 380,757. The business has a 50 day simple moving average of $39.08 and a 200 day simple moving average of $39.64. The company has a market cap of $10.73 billion, a price-to-earnings ratio of -43.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.86 and a current ratio of 0.86. Brookfield Renewable Partners L.P. has a 52-week low of $29.73 and a 52-week high of $49.87.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Thursday, August 5th. The utilities provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). Brookfield Renewable Partners had a negative net margin of 9.25% and a negative return on equity of 1.80%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $928.42 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that Brookfield Renewable Partners L.P. will post -0.36 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Tuesday, August 31st will be issued a $0.3038 dividend. This represents a $1.22 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is -200.00%.

About Brookfield Renewable Partners

Brookfield Renewable Partners LP engages in owning a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China.. It operates through following segments: Hydroelectric, Wind, Solar, Energy Transition, and Corporate. The Energy Transition segment distributes generation, pumped storage, cogeneration, and biomass.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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