TABR Capital Management LLC Purchases Shares of 20,175 Brookfield Renewable Partners L.P. $BEP

TABR Capital Management LLC acquired a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,175 shares of the utilities provider’s stock, valued at approximately $544,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 16.2% in the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after buying an additional 1,414,837 shares during the period. CIBC Bancorp USA Inc. bought a new stake in Brookfield Renewable Partners during the third quarter valued at about $19,944,000. Picton Mahoney Asset Management raised its holdings in Brookfield Renewable Partners by 95.6% during the third quarter. Picton Mahoney Asset Management now owns 1,070,639 shares of the utilities provider’s stock valued at $27,589,000 after acquiring an additional 523,263 shares during the period. Bank of Montreal Can lifted its position in shares of Brookfield Renewable Partners by 6.5% in the third quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock valued at $179,837,000 after acquiring an additional 428,446 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Brookfield Renewable Partners by 50.2% in the third quarter. UBS Group AG now owns 1,196,648 shares of the utilities provider’s stock worth $30,862,000 after acquiring an additional 400,052 shares during the period. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $32.43 on Wednesday. The stock has a market capitalization of $9.84 billion, a PE ratio of -124.73 and a beta of 1.09. The business has a 50 day simple moving average of $32.14 and a two-hundred day simple moving average of $29.81. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57. Brookfield Renewable Partners L.P. has a 1-year low of $21.60 and a 1-year high of $35.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.88. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. On average, research analysts predict that Brookfield Renewable Partners L.P. will post -0.83 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 27th were paid a dividend of $0.392 per share. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a yield of 4.8%. Brookfield Renewable Partners’s payout ratio is currently -603.85%.

Analyst Upgrades and Downgrades

BEP has been the subject of several research analyst reports. Zacks Research upgraded Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. National Bank Financial upped their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Brookfield Renewable Partners in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.93.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.