Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 282,574 shares of the utilities provider’s stock after purchasing an additional 1,333 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Brookfield Renewable Partners worth $6,988,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BEP. Scarborough Advisors LLC acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter worth about $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Brookfield Renewable Partners in the first quarter valued at approximately $31,000. Evermay Wealth Management LLC acquired a new stake in Brookfield Renewable Partners during the first quarter worth approximately $49,000. Clear Point Advisors Inc. purchased a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth approximately $49,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Brookfield Renewable Partners by 17.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Scotiabank lifted their price target on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 12th. National Bankshares raised their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $31.00 in a report on Monday, September 30th. JPMorgan Chase & Co. upped their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Brookfield Renewable Partners Stock Up 1.5 %

Brookfield Renewable Partners stock opened at $27.32 on Friday. The stock has a 50 day moving average of $25.31 and a two-hundred day moving average of $25.00. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $28.81. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of -59.39 and a beta of 0.94. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. Brookfield Renewable Partners’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) earnings per share. As a group, research analysts expect that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Friday, August 30th. 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.