Northwestern Mutual Wealth Management Co. Has $60,000 Stock Holdings in Brookfield Renewable Partners L.P. $BEP

Northwestern Mutual Wealth Management Co. increased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 136.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,730 shares of the utilities provider’s stock after acquiring an additional 1,576 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield Renewable Partners were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings 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 worth $25,000 after buying an additional 579 shares during the period. Rossby Financial LCC acquired a new position in Brookfield Renewable Partners during the 1st quarter worth about $41,000. NBC Securities Inc. acquired a new position in Brookfield Renewable Partners during the 1st quarter worth about $42,000. Trifecta Capital Advisors LLC acquired a new position in Brookfield Renewable Partners during the 1st quarter worth about $69,000. Finally, Barclays PLC lifted its stake in shares of Brookfield Renewable Partners by 13.5% in 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 own 63.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Scotiabank boosted their price objective on Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a “sector outperform” rating in a research note on Friday, July 18th. 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. National Bankshares upped their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, CIBC upped their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an “outperformer” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $30.11.

Brookfield Renewable Partners Trading Down 0.6%

NYSE BEP opened at $24.82 on Friday. The stock’s 50-day simple moving average is $25.86 and its two-hundred day simple moving average is $24.15. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of -26.12 and a beta of 1.04.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a $0.373 dividend. The ex-dividend date of this dividend 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 currently -156.84%.

Brookfield Renewable Partners 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.