Wellington Management Group LLP Buys 4,383 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Wellington Management Group LLP raised its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 5.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 84,030 shares of the utilities provider’s stock after purchasing an additional 4,383 shares during the period. Wellington Management Group LLP’s holdings in Brookfield Renewable Partners were worth $2,218,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BEP. FIL Ltd increased its holdings in Brookfield Renewable Partners by 37.1% in the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after purchasing an additional 3,474,522 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Brookfield Renewable Partners by 63.2% during the 4th quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock valued at $162,917,000 after acquiring an additional 2,394,853 shares during the period. CCLA Investment Management boosted its stake in Brookfield Renewable Partners by 37.2% during the fourth quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock worth $65,558,000 after acquiring an additional 676,754 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Brookfield Renewable Partners by 6.4% in the fourth quarter. Principal Financial Group Inc. now owns 6,905,963 shares of the utilities provider’s stock worth $181,489,000 after purchasing an additional 415,667 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Brookfield Renewable Partners by 1.4% in the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock valued at $326,691,000 after purchasing an additional 173,402 shares in the last quarter. 63.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BEP has been the subject of several research reports. CIBC raised their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Scotiabank boosted their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 12th. Royal Bank of Canada increased their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. BMO Capital Markets boosted their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Finally, Raymond James reduced their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average target price of $31.17.

Brookfield Renewable Partners Stock Down 1.2 %

Shares of NYSE:BEP opened at $24.47 on Tuesday. The company has a market capitalization of $6.97 billion, a PE ratio of -53.20 and a beta of 0.94. Brookfield Renewable Partners L.P. has a 1 year low of $19.92 and a 1 year high of $30.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.56 and a quick ratio of 0.56. The business has a fifty day moving average price of $25.91 and a two-hundred day moving average price of $24.81.

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

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were paid a $0.355 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.42 annualized dividend and a yield of 5.80%. Brookfield Renewable Partners’s payout ratio is -308.70%.

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.