Brookfield Renewable Partners L.P. $BEP Shares Purchased by Oak Grove Capital LLC

Oak Grove Capital LLC boosted its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 71.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,202,100 shares of the utilities provider’s stock after buying an additional 502,300 shares during the period. Brookfield Renewable Partners comprises about 1.5% of Oak Grove Capital LLC’s portfolio, making the stock its 9th biggest holding. Oak Grove Capital LLC’s holdings in Brookfield Renewable Partners were worth $33,827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Brookfield Renewable Partners by 44.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,460 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 757 shares during the last quarter. Wellington Altus USA Inc. raised its holdings in Brookfield Renewable Partners by 600.0% in the 2nd quarter. Wellington Altus USA Inc. now owns 3,500 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 3,000 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Brookfield Renewable Partners during the 2nd quarter worth $82,000. Corient Private Wealth LP acquired a new position in Brookfield Renewable Partners during the 2nd quarter worth $250,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Brookfield Renewable Partners by 1.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,072,131 shares of the utilities provider’s stock worth $36,939,000 after purchasing an additional 19,957 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BEP. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Monday, September 21st. BMO Capital Markets set a $41.00 target price on Brookfield Renewable Partners in a research note on Monday, August 17th. UBS Group reiterated a “buy” rating and issued a $34.00 price target (down from $40.00) on shares of Brookfield Renewable Partners in a research report on Thursday, October 1st. Zacks Research raised shares of Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $41.00 target price on shares of Brookfield Renewable Partners in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.79.

Brookfield Renewable Partners Trading Up 0.8%

BEP stock opened at $29.53 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.87. Brookfield Renewable Partners L.P. has a twelve month low of $26.29 and a twelve month high of $38.12. The company has a market cap of $8.86 billion, a P/E ratio of -64.19 and a beta of 1.10. The business has a fifty day moving average of $31.12 and a 200-day moving average of $33.01.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. As a group, equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were issued a dividend of $0.3920 per share. The ex-dividend date was Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a yield of 5.3%. Brookfield Renewable Partners’s payout ratio is currently -341.30%.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a renewable power and energy transition company that owns and operates a diversified portfolio of clean energy assets. Its main activities include generating electricity from hydroelectric, wind and solar facilities, as well as providing energy storage and other decarbonization solutions.

The company serves electricity markets and commercial, industrial and utility customers across North America, South America, Europe and the Asia-Pacific region. In addition to operating renewable power facilities, Brookfield Renewable develops new projects and invests in businesses supporting the transition to lower-carbon energy, including distributed energy and sustainable solutions.

Brookfield Renewable traces its origins to Brookfield Asset Management’s renewable power operations and became publicly listed as Brookfield Renewable Energy Partners in 2011.