Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Position Increased by Royal Bank of Canada

Royal Bank of Canada lifted its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,465,478 shares of the utilities provider’s stock after buying an additional 211,467 shares during the period. Royal Bank of Canada owned approximately 0.06% of Brookfield Renewable Partners worth $375,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in shares of Brookfield Renewable Partners by 23.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after buying an additional 1,628,524 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after buying an additional 246,163 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Brookfield Renewable Partners by 4.7% in the 4th quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock worth $160,585,000 after buying an additional 315,272 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of Brookfield Renewable Partners by 4.4% in the 4th quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after buying an additional 116,593 shares in the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of Brookfield Renewable Partners by 13.5% in the 4th quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider’s stock worth $61,433,000 after buying an additional 323,619 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $24.43 on Friday. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of -27.45 and a beta of 0.99. The stock’s fifty day simple moving average is $22.45 and its 200-day simple moving average is $23.05.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. The business had revenue of $907.00 million for the quarter, compared to analysts’ expectations of $1.73 billion. On average, sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.11%. Brookfield Renewable Partners’s dividend payout ratio is -147.52%.

Wall Street Analysts Forecast Growth

BEP has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. CIBC cut their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a research report on Monday, May 5th. Scotiabank boosted their target price on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.67.

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.