Tema Etfs LLC Makes New $2.12 Million Investment in Brookfield Renewable Partners L.P. $BEP

Tema Etfs LLC purchased a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 83,130 shares of the utilities provider’s stock, valued at approximately $2,121,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop National Bank bought a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at $34,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the 2nd quarter worth $34,000. Activest Wealth Management purchased a new stake in Brookfield Renewable Partners in the 2nd quarter worth $50,000. Northwestern Mutual Wealth Management Co. increased its stake in Brookfield Renewable Partners by 136.6% in the 1st 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, Allworth Financial LP raised its holdings in Brookfield Renewable Partners by 76.7% during the second quarter. Allworth Financial LP now owns 5,300 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 2,300 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Up 1.8%

Shares of BEP opened at $28.37 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of -32.99 and a beta of 1.11. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $32.72. The business’s 50 day simple moving average is $28.62 and its 200-day simple moving average is $26.55.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.22. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.61 billion. Brookfield Renewable Partners had a net margin of 3.52% and a return on equity of 0.66%. As a group, equities analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a $0.373 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.49 annualized dividend and a yield of 5.3%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.26%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BEP shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Renewable Partners in a research note on Wednesday, October 8th. Mizuho set a $33.00 price target on Brookfield Renewable Partners in a research note on Friday, November 7th. BMO Capital Markets set a $36.00 price objective on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a research report on Wednesday, October 29th. UBS Group reissued a “buy” rating and issued a $38.00 target price (up previously from $29.00) on shares of Brookfield Renewable Partners in a report on Thursday, October 30th. Finally, National Bankshares upped their target price on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.79.

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.