Franklin Resources Inc. Boosts Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Franklin Resources Inc. increased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEPFree Report) (TSE:BEP) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,262 shares of the utilities provider’s stock after buying an additional 1,126 shares during the quarter. Franklin Resources Inc.’s holdings in Brookfield Renewable Partners were worth $2,162,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC purchased a new position in shares of Brookfield Renewable Partners during the fourth quarter worth approximately $26,000. Northwest Financial Advisors purchased a new position in Brookfield Renewable Partners during the 4th quarter worth $65,000. Principal Securities Inc. acquired a new position in Brookfield Renewable Partners in the fourth quarter valued at $77,000. Lincluden Management Ltd. purchased a new stake in shares of Brookfield Renewable Partners in the fourth quarter valued at about $94,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth about $234,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 0.7 %

Brookfield Renewable Partners stock opened at $28.07 on Tuesday. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of -61.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $32.28. The stock’s fifty day moving average is $24.45 and its two-hundred day moving average is $24.70.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last posted its earnings results on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.24). The business had revenue of $875.00 million for the quarter, compared to analysts’ expectations of $828.39 million. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. Analysts predict that Brookfield Renewable Partners L.P. will post -0.49 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 annualized dividend and a dividend yield of 5.06%. Brookfield Renewable Partners’s dividend payout ratio is currently -308.70%.

Analyst Ratings Changes

Several analysts have commented on the company. Royal Bank of Canada upped their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $28.00 price objective (down from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, February 12th. CIBC upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Scotiabank lifted their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and a consensus price target of $31.08.

Read Our Latest Analysis on Brookfield Renewable Partners

About Brookfield Renewable Partners

(Free Report)

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.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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