Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI grew its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,041,274 shares of the utilities provider’s stock after acquiring an additional 68,956 shares during the quarter. National Bank of Canada FI owned about 0.36% of Brookfield Renewable Partners worth $26,964,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baystate Wealth Management LLC acquired a new position in Brookfield Renewable Partners during the fourth quarter valued at approximately $26,000. Stratos Wealth Partners LTD. purchased a new stake in Brookfield Renewable Partners during the 3rd quarter worth $244,000. Clearstead Advisors LLC increased its holdings in Brookfield Renewable Partners by 8.5% in the 3rd quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 967 shares in the last quarter. Alpine Global Management LLC acquired a new stake in Brookfield Renewable Partners in the 3rd quarter valued at $282,000. Finally, Pathstone Family Office LLC purchased a new position in Brookfield Renewable Partners in the third quarter valued at about $282,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BEP. Raymond James lowered their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday. Royal Bank of Canada boosted their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $28.00 price target (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.75.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $26.65 on Tuesday. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $32.76. The company’s fifty day moving average is $22.51 and its two-hundred day moving average is $23.97. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.31%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Brookfield Renewable Partners’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post -0.01 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date is Friday, May 31st. Brookfield Renewable Partners’s payout ratio is -219.56%.

About Brookfield Renewable Partners

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.