Gold Investment Management Ltd. Boosts Stake in Brookfield Renewable Partners L.P. $BEP

Gold Investment Management Ltd. raised its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,158 shares of the utilities provider’s stock after buying an additional 2,810 shares during the period. Gold Investment Management Ltd.’s holdings in Brookfield Renewable Partners were worth $2,426,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Golden State Wealth Management LLC grew its position in shares of Brookfield Renewable Partners by 103.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 579 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at approximately $41,000. NBC Securities Inc. purchased a new stake in Brookfield Renewable Partners in the first quarter worth about $42,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Brookfield Renewable Partners by 136.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider’s stock worth $60,000 after buying an additional 1,576 shares in the last quarter. Finally, Trifecta Capital Advisors LLC bought a new position in Brookfield Renewable Partners during the first quarter valued at approximately $69,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BEP. Scotiabank upped their target price on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 18th. JPMorgan Chase & Co. raised their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. National Bankshares increased their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Raymond James Financial lowered shares of Brookfield Renewable Partners from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Mizuho lifted their price objective on shares of Brookfield Renewable Partners from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $26.70 on Thursday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. The company has a 50 day simple moving average of $25.54 and a two-hundred day simple moving average of $24.49. Brookfield Renewable Partners L.P. has a 12 month low of $19.29 and a 12 month high of $29.56. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of -28.11 and a beta of 1.13.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly 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). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%.The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. As a group, analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -156.84%.

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.