TABR Capital Management LLC Makes New Investment in Brookfield Renewable Partners L.P. $BEP

TABR Capital Management LLC purchased a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 20,175 shares of the utilities provider’s stock, valued at approximately $544,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 16.2% during the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after purchasing an additional 1,414,837 shares during the last quarter. Liontrust Investment Partners LLP acquired a new stake in Brookfield Renewable Partners in the 2nd quarter valued at about $24,180,000. CIBC Bancorp USA Inc. bought a new position in Brookfield Renewable Partners during the third quarter worth about $19,944,000. Picton Mahoney Asset Management bought a new position in Brookfield Renewable Partners during the second quarter worth about $13,899,000. Finally, Bank of Montreal Can increased its position in Brookfield Renewable Partners by 6.5% during the third quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock worth $179,837,000 after buying an additional 428,446 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 3.1%

Shares of BEP stock opened at $30.87 on Monday. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $32.78. The company has a market capitalization of $9.43 billion, a PE ratio of -118.73 and a beta of 1.13. The firm has a 50 day moving average price of $30.25 and a two-hundred day moving average price of $28.61. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of ($0.34) by $0.88. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a $0.392 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 5.1%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s payout ratio is currently -603.85%.

Analyst Upgrades and Downgrades

BEP has been the topic of several research analyst reports. UBS Group restated a “buy” rating and issued a $39.00 price objective (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Morgan Stanley reiterated an “overweight” rating and set a $38.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th. Barclays set a $28.00 price target on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, December 29th. Finally, Desjardins raised shares of Brookfield Renewable Partners to a “hold” rating in a research report on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and a consensus target price of $34.93.

About Brookfield Renewable Partners

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.