Brookfield Renewable Partners L.P. (NYSE:BEP) Holdings Lowered by PFG Investments LLC

PFG Investments LLC trimmed its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,463 shares of the utilities provider’s stock after selling 8,129 shares during the period. PFG Investments LLC’s holdings in Brookfield Renewable Partners were worth $1,646,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter valued at $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Brookfield Renewable Partners in the 1st quarter worth about $31,000. Evermay Wealth Management LLC purchased a new stake in Brookfield Renewable Partners in the 1st quarter worth about $49,000. Clear Point Advisors Inc. purchased a new stake in Brookfield Renewable Partners in the 1st quarter worth about $49,000. Finally, Principal Securities Inc. purchased a new stake in Brookfield Renewable Partners in the 4th quarter worth about $77,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $24.18 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of -52.57 and a beta of 0.93. The business’s 50-day simple moving average is $24.69 and its 200-day simple moving average is $24.48. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) EPS. As a group, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is -308.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BEP shares. National Bankshares increased their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Scotiabank increased their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average target price of $31.82.

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.