National Bank of Canada FI Increases Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

National Bank of Canada FI boosted its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,041,274 shares of the utilities provider’s stock after purchasing an additional 68,956 shares during the quarter. National Bank of Canada FI’s holdings in Brookfield Renewable Partners were worth $26,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Baystate Wealth Management LLC bought a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at about $26,000. Stratos Wealth Partners LTD. purchased a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $244,000. Clearstead Advisors LLC lifted its position in Brookfield Renewable Partners by 8.5% during the third quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 967 shares during the last quarter. Pathstone Family Office LLC purchased a new position in Brookfield Renewable Partners in the 3rd quarter worth approximately $282,000. Finally, Alpine Global Management LLC bought a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth $282,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

BEP has been the subject of several research analyst reports. National Bankshares lifted their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday. BMO Capital Markets increased 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 report on Monday. Scotiabank boosted their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada increased their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Monday. Finally, CIBC boosted their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given 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 target price of $30.75.

Brookfield Renewable Partners Stock Up 3.4 %

Brookfield Renewable Partners stock opened at $26.65 on Tuesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.85. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $32.76. The firm has a 50-day moving average of $22.51 and a 200-day moving average of $23.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a return on equity of 1.31% and a net margin of 7.10%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business posted ($0.16) EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, equities analysts expect that Brookfield Renewable Partners L.P. will post -0.01 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.355 per share. The ex-dividend date is Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.33%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -219.56%.

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.