Brookfield Renewable Partners L.P. $BEP Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 46.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 602,416 shares of the utilities provider’s stock after selling 513,327 shares during the period. The Manufacturers Life Insurance Company owned 0.20% of Brookfield Renewable Partners worth $19,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kelleher Financial Advisors purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at approximately $26,000. Russell Investments Group Ltd. acquired a new position in Brookfield Renewable Partners in the 2nd quarter valued at $34,000. CENTRAL TRUST Co purchased a new position in Brookfield Renewable Partners during the 1st quarter worth $55,000. Triumph Capital Management purchased a new position in Brookfield Renewable Partners during the 3rd quarter worth $55,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Brookfield Renewable Partners by 284.5% in the 4th quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,633 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $32.89 on Friday. The business’s 50 day simple moving average is $34.33 and its 200-day simple moving average is $32.70. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of -71.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Renewable Partners L.P. has a 12 month low of $24.13 and a 12 month high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.56 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. As a group, equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.55 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio is -506.45%.

More Brookfield Renewable Partners News

Here are the key news stories impacting Brookfield Renewable Partners this week:

• Positive Sentiment: Brookfield Renewable reported what management described as record second-quarter results, robust capital deployment, and its highest development activity levels. Revenue of $1.71 billion exceeded the $1.56 billion consensus estimate, supporting the view that demand for renewable power and the company’s growth pipeline remain strong. Brookfield Renewable Reports Strong Second Quarter Results
• Positive Sentiment: The company declared a quarterly distribution of $0.392 per share, payable September 29 to shareholders of record August 31. The annualized payout of approximately $1.568 represents a yield of about 4.8%, which may appeal to income-focused investors and help support the shares. Brookfield Renewable dividend announcement
• Positive Sentiment: A recent investment commentary presented Brookfield Renewable as a potentially lower-risk way to participate in the artificial-intelligence power boom than more speculative companies such as Bloom Energy. That positioning could attract investors seeking exposure to rising electricity demand through a diversified renewable-power operator. Bloom Energy Is Soaring: Is There a Better Way To Play The AI Power Boom?
• Neutral Sentiment: Analysts’ review of second-quarter operating metrics may provide additional context on performance versus estimates and the prior year, but the available report does not identify a specific new catalyst. Compared to Estimates, Brookfield Renewable Q2 Earnings
• Negative Sentiment: Reported EPS of negative $0.37 missed the negative $0.35 consensus estimate by $0.02. Despite the revenue beat, the earnings shortfall and low reported profitability could temper the positive reaction to the quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on BEP. UBS Group reissued a “buy” rating and set a $40.00 price target (up from $39.00) on shares of Brookfield Renewable Partners in a report on Friday, June 12th. TD increased their target price on Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Scotiabank reissued an “outperform” rating and issued a $42.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Friday, May 29th. National Bank Financial lifted their price target on Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Brookfield Renewable Partners in a report on Tuesday, July 21st. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.93.

About Brookfield Renewable Partners

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.