Bellecapital International Ltd. acquired a new stake in shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,195 shares of the utilities provider’s stock, valued at approximately $318,000.
Several other institutional investors have also recently made changes to their positions in BEP. BerganKDV Wealth Management LLC grew its position in Brookfield Renewable Partners by 100.0% during the 1st quarter. BerganKDV Wealth Management LLC now owns 800 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 400 shares during the last quarter. Horan Securities Inc. purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at approximately $35,000. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Brookfield Renewable Partners by 106.9% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,167 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 603 shares during the period. Truvestments Capital LLC purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at approximately $54,000. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at approximately $157,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.
A number of research analysts have recently commented on BEP shares. Desjardins raised their target price on Brookfield Renewable Partners from $44.50 to $45.00 in a research note on Friday, May 3rd. Royal Bank of Canada raised their price objective on Brookfield Renewable Partners from $33.00 to $37.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. Credit Suisse Group lowered Brookfield Renewable Partners from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 25th. Barclays set a $53.00 target price on Brookfield Renewable Partners and gave the stock a “buy” rating in a report on Monday. Finally, Raymond James lifted their target price on Brookfield Renewable Partners from $31.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.57.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.21). Brookfield Renewable Partners had a net margin of 9.16% and a return on equity of 1.80%. The company had revenue of $787.00 million for the quarter.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 11.45%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, August 29th. Brookfield Renewable Partners’s payout ratio is presently 1,584.62%.
About Brookfield Renewable Partners
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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