Northwest & Ethical Investments L.P. Invests $2.26 Million in Brookfield Renewable Partners L.P. (NYSE:BEP)

Northwest & Ethical Investments L.P. purchased a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 80,303 shares of the utilities provider’s stock, valued at approximately $2,261,000.

Several other large investors have also modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Brookfield Renewable Partners by 8.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 328,066 shares of the utilities provider’s stock valued at $9,245,000 after acquiring an additional 24,467 shares during the period. Cadence Bank acquired a new position in Brookfield Renewable Partners in the third quarter valued at approximately $212,000. BNP Paribas Financial Markets boosted its stake in Brookfield Renewable Partners by 609.2% in the third quarter. BNP Paribas Financial Markets now owns 11,808 shares of the utilities provider’s stock valued at $333,000 after acquiring an additional 10,143 shares during the period. Bank of Montreal Can boosted its stake in Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after acquiring an additional 26,189 shares during the period. Finally, Mirabella Financial Services LLP boosted its stake in Brookfield Renewable Partners by 145.2% in the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after acquiring an additional 276,374 shares during the period. Institutional investors own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC lifted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. 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. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $26.03 on Friday. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of -31.74 and a beta of 0.95. The stock’s 50 day moving average price is $26.56 and its 200 day moving average price is $25.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73.

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

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 5.46%. Brookfield Renewable Partners’s payout ratio is -173.17%.

About Brookfield Renewable Partners

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.