National Bank of Canada FI Boosts Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

National Bank of Canada FI boosted its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,040,674 shares of the utilities provider’s stock after purchasing an additional 25,916 shares during the period. National Bank of Canada FI’s holdings in Brookfield Renewable Partners were worth $29,326,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares during the period. Waverton Investment Management Ltd purchased a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $178,000. Creative Planning bought a new position in Brookfield Renewable Partners in the third quarter worth approximately $206,000. Cadence Bank purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter worth $212,000. Finally, Aspiriant LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at $241,000. 63.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. CIBC upped their price target 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. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. One equities 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Trading Down 1.3 %

BEP stock opened at $24.23 on Monday. 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 L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The business has a 50 day simple moving average of $26.31 and a two-hundred day simple moving average of $25.79. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -29.55 and a beta of 0.93.

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). The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the prior year, the company posted ($0.14) EPS. Research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.88 EPS 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. Stockholders of record on Friday, November 29th will be issued 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 5.86%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

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.