Diversify Wealth Management LLC Purchases Shares of 26,389 Brookfield Renewable Partners L.P. $BEP

Diversify Wealth Management LLC acquired a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 1st quarter, HoldingsChannel reports. The fund acquired 26,389 shares of the utilities provider’s stock, valued at approximately $847,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BROOKFIELD Corp ON lifted its stake in shares of Brookfield Renewable Partners by 9.4% in the 4th quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after purchasing an additional 6,967,670 shares during the period. State of Wisconsin Investment Board grew its position in Brookfield Renewable Partners by 128.0% during the fourth quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock valued at $131,265,000 after buying an additional 2,732,542 shares during the period. Bank of Montreal Can increased its holdings in Brookfield Renewable Partners by 20.3% in the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock valued at $226,859,000 after buying an additional 1,415,989 shares in the last quarter. Morgan Stanley increased its holdings in Brookfield Renewable Partners by 41.9% in the fourth quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock valued at $108,663,000 after buying an additional 1,189,130 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Brookfield Renewable Partners by 340.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,115,743 shares of the utilities provider’s stock worth $30,207,000 after acquiring an additional 862,280 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $31.82 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a fifty day moving average of $34.80 and a 200 day moving average of $32.35. The firm has a market cap of $9.55 billion, a PE ratio of -102.65 and a beta of 1.10. Brookfield Renewable Partners L.P. has a one year low of $24.13 and a one year high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. As a group, research analysts predict that Brookfield Renewable Partners L.P. will post -1.53 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Friday, May 29th. Brookfield Renewable Partners’s dividend payout ratio is -506.45%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. National Bank Financial increased their target price on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. TD Securities restated a “buy” rating and issued a $39.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. TD upped their price target on Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Wall Street Zen cut Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $40.00 price target (up from $37.00) on shares of Brookfield Renewable Partners in a research report on Monday, April 20th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.