Credit Industriel ET Commercial Has $10.73 Million Holdings in Brookfield Renewable Partners L.P. $BEP

Credit Industriel ET Commercial lifted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 50.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 416,093 shares of the utilities provider’s stock after buying an additional 139,593 shares during the quarter. Brookfield Renewable Partners comprises approximately 0.9% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 14th largest holding. Credit Industriel ET Commercial owned about 0.15% of Brookfield Renewable Partners worth $10,731,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Tacita Capital Inc grew its holdings in Brookfield Renewable Partners by 3.5% in the third quarter. Tacita Capital Inc now owns 118,331 shares of the utilities provider’s stock worth $3,052,000 after purchasing an additional 3,987 shares during the period. Edgemoor Investment Advisors Inc. boosted its position in shares of Brookfield Renewable Partners by 10.9% during the 3rd quarter. Edgemoor Investment Advisors Inc. now owns 71,406 shares of the utilities provider’s stock worth $1,842,000 after purchasing an additional 6,997 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Brookfield Renewable Partners by 14.9% in the 3rd quarter. Bessemer Group Inc. now owns 8,790 shares of the utilities provider’s stock valued at $227,000 after buying an additional 1,140 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Brookfield Renewable Partners by 7.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock valued at $264,000 after buying an additional 742 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in Brookfield Renewable Partners in the 3rd quarter valued at about $81,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $31.75 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.19 and a quick ratio of 0.58. The firm has a 50-day moving average of $28.36 and a 200-day moving average of $27.56. Brookfield Renewable Partners L.P. has a one year low of $19.29 and a one year high of $32.72. The company has a market cap of $9.01 billion, a P/E ratio of -122.10 and a beta of 1.14.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.9%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio is -573.08%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BEP. Desjardins upgraded Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Canadian Imperial Bank of Commerce set a $35.00 target price on Brookfield Renewable Partners and gave the stock an “outperformer” rating in a report on Thursday, November 6th. Raymond James Financial reissued an “outperform” rating and issued a $35.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, December 29th. Finally, National Bank Financial raised their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.79.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.