Creative Planning Buys Shares of 7,303 Brookfield Renewable Partners L.P. (NYSE:BEP)

Creative Planning bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,303 shares of the utilities provider’s stock, valued at approximately $206,000.

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its position in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Brookfield Renewable Partners during the second quarter valued at approximately $359,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield Renewable Partners by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock worth $6,988,000 after acquiring an additional 1,333 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Brookfield Renewable Partners by 0.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock worth $40,327,000 after acquiring an additional 5,388 shares during the last quarter. Finally, CCLA Investment Management lifted its holdings in shares of Brookfield Renewable Partners by 1.9% in the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after acquiring an additional 47,734 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BEP has been the subject of a number of recent research reports. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $31.00 in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. CIBC boosted their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Stock Down 2.0 %

Shares of Brookfield Renewable Partners stock opened at $25.90 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52. The company’s fifty day simple moving average is $26.52 and its two-hundred day simple moving average is $25.84. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. During the same period in the previous year, the firm posted ($0.14) earnings per share. As a group, analysts expect that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

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.