Royal Bank of Canada Raises Stock Position in Brookfield Renewable Partners L.P. $BEP

Royal Bank of Canada increased its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,839,565 shares of the utilities provider’s stock after acquiring an additional 374,087 shares during the quarter. Royal Bank of Canada owned approximately 0.06% of Brookfield Renewable Partners worth $373,164,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of Brookfield Renewable Partners by 103.6% during the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock worth $25,000 after buying an additional 579 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Brookfield Renewable Partners during the first quarter worth $41,000. NBC Securities Inc. purchased a new stake in shares of Brookfield Renewable Partners during the first quarter worth $42,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Brookfield Renewable Partners by 136.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider’s stock worth $60,000 after buying an additional 1,576 shares in the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Brookfield Renewable Partners during the first quarter worth $69,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 2.1%

Shares of BEP opened at $25.36 on Monday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $29.56. The firm has a 50-day moving average price of $25.91 and a 200 day moving average price of $24.09. The firm has a market capitalization of $7.20 billion, a P/E ratio of -26.69 and a beta of 1.04.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -156.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BEP shares. CIBC upped their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an “outperformer” rating in a report on Monday, July 21st. National Bankshares upped their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. National Bank Financial raised shares of Brookfield Renewable Partners to a “strong-buy” rating in a report on Sunday, June 8th. Finally, Scotiabank upped their price objective on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $30.11.

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.