Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2,913.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,013 shares of the utilities provider’s stock after acquiring an additional 18,382 shares during the quarter. GAMMA Investing LLC’s holdings in Brookfield Renewable Partners were worth $421,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Royal Bank of Canada raised its position in Brookfield Renewable Partners by 1.3% during the fourth quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider’s stock valued at $375,248,000 after acquiring an additional 211,467 shares in the last quarter. Bank of Montreal Can boosted its stake in Brookfield Renewable Partners by 4.7% during the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock worth $160,585,000 after buying an additional 315,272 shares during the last quarter. Scotia Capital Inc. lifted its stake in shares of Brookfield Renewable Partners by 13.5% in the 4th quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider’s stock valued at $61,433,000 after purchasing an additional 323,619 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Brookfield Renewable Partners by 31.8% in the 4th quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider’s stock valued at $53,263,000 after purchasing an additional 564,515 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Brookfield Renewable Partners by 102.4% in the 4th quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider’s stock valued at $48,023,000 after purchasing an additional 1,065,590 shares during the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BEP has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Wall Street Zen downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. National Bank Financial upgraded Brookfield Renewable Partners to a “strong-buy” rating in a report on Sunday, June 8th. CIBC cut their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a report on Monday, May 5th. Finally, Barclays started coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Brookfield Renewable Partners Stock Down 1.7%

Brookfield Renewable Partners stock opened at $25.45 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.51 and a quick ratio of 0.51. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56. The company has a market cap of $7.22 billion, a PE ratio of -25.19 and a beta of 0.98. The stock’s 50 day moving average price is $23.58 and its 200 day moving average price is $22.88.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). The business had revenue of $907.00 million during the quarter, compared to analysts’ expectations of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. On average, sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, May 30th. This represents a $1.49 annualized dividend and a yield of 5.86%. Brookfield Renewable Partners’s dividend payout ratio is presently -147.52%.

Brookfield Renewable Partners Company Profile

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.