Kayne Anderson Capital Advisors LP Buys 172,028 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Kayne Anderson Capital Advisors LP boosted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 105.7% in the third quarter, Holdings Channel reports. The institutional investor owned 334,822 shares of the utilities provider’s stock after purchasing an additional 172,028 shares during the period. Brookfield Renewable Partners accounts for approximately 0.2% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 29th biggest position. Kayne Anderson Capital Advisors LP’s holdings in Brookfield Renewable Partners were worth $9,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Brookfield Renewable Partners by 0.9% during the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock valued at $2,017,000 after acquiring an additional 768 shares in the last quarter. Tidal Investments LLC lifted its position in Brookfield Renewable Partners by 2.5% in the 1st quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock valued at $866,000 after acquiring an additional 894 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Brookfield Renewable Partners by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 945 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Renewable Partners by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock worth $6,988,000 after purchasing an additional 1,333 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 0.5 %

Shares of BEP opened at $25.18 on Monday. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of -30.71 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.52. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a 50-day moving average of $26.60 and a 200 day moving average of $25.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. During the same period last year, the firm earned ($0.14) earnings per share. On average, research analysts expect that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a dividend yield of 5.64%. Brookfield Renewable Partners’s payout ratio is presently -173.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. CIBC boosted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.78.

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.