PFG Investments LLC Lowers Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

PFG Investments LLC lessened its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,663 shares of the utilities provider’s stock after selling 1,800 shares during the quarter. PFG Investments LLC’s holdings in Brookfield Renewable Partners were worth $1,822,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BEP. Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Renewable Partners in the second quarter valued at approximately $16,936,000. Liontrust Investment Partners LLP purchased a new position in Brookfield Renewable Partners in the 2nd quarter valued at approximately $14,862,000. Price T Rowe Associates Inc. MD grew its stake in shares of Brookfield Renewable Partners by 103.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after acquiring an additional 595,335 shares in the last quarter. NewGen Asset Management Ltd purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth $6,188,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at $6,191,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on BEP shares. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered 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 raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $31.00 in a report on Monday, September 30th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, National Bankshares increased their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Stock Down 0.2 %

BEP stock opened at $27.71 on Friday. The company’s 50 day moving average is $26.18 and its two-hundred day moving average is $25.43. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $29.56. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a market cap of $7.90 billion, a P/E ratio of -60.24 and a beta of 0.94.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. Brookfield Renewable Partners’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the firm earned ($0.10) earnings per share. Research analysts expect that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.355 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.12%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -308.70%.

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.