Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 17.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,111 shares of the utilities provider’s stock after acquiring an additional 6,764 shares during the quarter. Cetera Investment Advisers’ holdings in Brookfield Renewable Partners were worth $1,022,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BEP. Golden State Wealth Management LLC boosted its position in Brookfield Renewable Partners by 103.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 579 shares during the period. Rossby Financial LCC acquired a new position in Brookfield Renewable Partners during the 1st quarter valued at approximately $41,000. NBC Securities Inc. acquired a new position in Brookfield Renewable Partners during the 1st quarter valued at approximately $42,000. Trifecta Capital Advisors LLC acquired a new position in Brookfield Renewable Partners during the 1st quarter valued at approximately $69,000. Finally, Barclays PLC boosted its position in Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider’s stock valued at $183,000 after purchasing an additional 951 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

BEP opened at $24.71 on Wednesday. The company has a market cap of $7.01 billion, a PE ratio of -26.01 and a beta of 1.05. The stock has a 50-day moving average of $26.00 and a 200-day moving average of $23.77. Brookfield Renewable Partners L.P. has a 52-week low of $19.29 and a 52-week high of $29.56. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.44 and a current ratio of 0.44.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. As a group, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 annualized dividend and a yield of 6.0%. Brookfield Renewable Partners’s dividend payout ratio is presently -156.84%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. CIBC lifted their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an “outperformer” rating in a research note on Monday, July 21st. JPMorgan Chase & Co. dropped their price objective on Brookfield Renewable Partners from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 22nd. National Bank Financial raised Brookfield Renewable Partners to a “strong-buy” rating in a research note on Sunday, June 8th. Raymond James Financial downgraded Brookfield Renewable Partners from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, Scotiabank boosted their price objective on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.11.

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.