553,783 Shares in Brookfield Renewable Partners L.P. $BEP Acquired by Deltroit Asset Management UK LLP

Deltroit Asset Management UK LLP bought a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 553,783 shares of the utilities provider’s stock, valued at approximately $14,936,000. Brookfield Renewable Partners makes up 2.2% of Deltroit Asset Management UK LLP’s portfolio, making the stock its 14th biggest position.

Several other hedge funds have also added to or reduced their stakes in BEP. Aviso Financial Inc. lifted its position in shares of Brookfield Renewable Partners by 9.6% in the 3rd quarter. Aviso Financial Inc. now owns 8,338 shares of the utilities provider’s stock worth $215,000 after purchasing an additional 733 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Brookfield Renewable Partners by 7.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock worth $264,000 after purchasing an additional 742 shares during the period. Allworth Financial LP raised its stake in Brookfield Renewable Partners by 9.5% during the fourth quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock worth $233,000 after buying an additional 750 shares during the last quarter. Kelleher Financial Advisors acquired a new position in Brookfield Renewable Partners in the third quarter valued at $26,000. Finally, Bessemer Group Inc. lifted its holdings in Brookfield Renewable Partners by 14.9% in the third quarter. Bessemer Group Inc. now owns 8,790 shares of the utilities provider’s stock valued at $227,000 after buying an additional 1,140 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. National Bank Financial boosted their target price on shares of Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. TD boosted their target price on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Finally, Morgan Stanley boosted their target price on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.71.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $36.54 on Friday. Brookfield Renewable Partners L.P. has a 52-week low of $23.80 and a 52-week high of $38.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The business’s 50 day moving average price is $34.41 and its two-hundred day moving average price is $31.04. The firm has a market cap of $11.08 billion, a PE ratio of -117.87 and a beta of 1.09.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. On average, equities analysts anticipate that Brookfield Renewable Partners L.P. will post -1.53 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Renewable Partners’s payout ratio is presently -506.45%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.