Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Holdings Increased by Barclays PLC

Barclays PLC raised its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 40.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,047 shares of the utilities provider’s stock after purchasing an additional 2,036 shares during the quarter. Barclays PLC’s holdings in Brookfield Renewable Partners were worth $199,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares during the period. Waverton Investment Management Ltd acquired a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $178,000. Creative Planning acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at $206,000. Cadence Bank acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at $212,000. Finally, Aspiriant LLC acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at $241,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock opened at $20.68 on Wednesday. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of -25.21 and a beta of 0.95. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average is $23.81 and its 200-day moving average is $25.03.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share 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 the consensus estimate of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -0.88 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 6.87%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Thursday, December 12th. National Bankshares cut their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. CIBC boosted their price target on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.44.

Brookfield Renewable Partners Company 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.