Brookfield Renewable Partners L.P. $BEP Shares Bought by Invesco Ltd.

Invesco Ltd. raised its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 13.6% in the first quarter, Holdings Channel.com reports. The fund owned 1,706,128 shares of the utilities provider’s stock after acquiring an additional 204,176 shares during the period. Invesco Ltd.’s holdings in Brookfield Renewable Partners were worth $37,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC raised its holdings in Brookfield Renewable Partners by 103.6% during the 1st 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 during the period. Bank of Nova Scotia Trust Co. raised its holdings in Brookfield Renewable Partners by 0.5% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 149,221 shares of the utilities provider’s stock worth $3,307,000 after buying an additional 726 shares during the period. Barclays PLC raised its holdings in Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider’s stock worth $183,000 after buying an additional 951 shares during the period. Captrust Financial Advisors raised its holdings in Brookfield Renewable Partners by 4.2% during the 4th quarter. Captrust Financial Advisors now owns 25,033 shares of the utilities provider’s stock worth $570,000 after buying an additional 1,012 shares during the period. Finally, Avantax Advisory Services Inc. raised its holdings in Brookfield Renewable Partners by 5.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 25,373 shares of the utilities provider’s stock worth $562,000 after buying an additional 1,221 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. CIBC boosted their price objective on 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 boosted their price objective on 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. cut their price objective on Brookfield Renewable Partners from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. National Bank Financial upgraded Brookfield Renewable Partners to a “strong-buy” rating in a report on Sunday, June 8th. Finally, Wells Fargo & Company dropped their target price on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.11.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $24.90 on Tuesday. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of -26.21 and a beta of 1.05. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. The business’s 50-day moving average is $26.02 and its 200-day moving average is $23.89.

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

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be issued a $0.373 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 6.0%. Brookfield Renewable Partners’s dividend payout ratio is currently -156.84%.

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.