18,098 Shares of Brookfield Renewable Partners L.P. $BEP Bought by Brighton Jones LLC

Brighton Jones LLC purchased a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,098 shares of the utilities provider’s stock, valued at approximately $509,000.

Several other large investors also recently made changes to their positions in the business. Bank of America Corp DE grew its stake in shares of Brookfield Renewable Partners by 413.2% in the 1st quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider’s stock worth $31,767,000 after purchasing an additional 783,620 shares during the last quarter. Oak Grove Capital LLC boosted its holdings in Brookfield Renewable Partners by 71.8% during the third quarter. Oak Grove Capital LLC now owns 1,202,100 shares of the utilities provider’s stock worth $33,827,000 after buying an additional 502,300 shares in the last quarter. Guardian Partners Inc. acquired a new position in Brookfield Renewable Partners in the third quarter worth approximately $4,721,000. Bank of Nova Scotia grew its position in Brookfield Renewable Partners by 11.0% in the first quarter. Bank of Nova Scotia now owns 1,148,128 shares of the utilities provider’s stock worth $37,444,000 after buying an additional 114,127 shares during the last quarter. Finally, Groupe la Francaise increased its holdings in shares of Brookfield Renewable Partners by 194.5% in the first quarter. Groupe la Francaise now owns 159,894 shares of the utilities provider’s stock valued at $5,214,000 after buying an additional 105,599 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BEP. UBS Group restated a “buy” rating and issued a $34.00 target price (down from $40.00) on shares of Brookfield Renewable Partners in a report on Thursday, October 1st. Barclays set a $30.00 price target on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. BMO Capital Markets set a $41.00 price target on Brookfield Renewable Partners in a research note on Monday, August 17th. Zacks Research upgraded Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Finally, Wall Street Zen raised shares of Brookfield Renewable Partners from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 7th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.73.

Brookfield Renewable Partners Stock Up 1.3%

NYSE BEP opened at $29.97 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 1-year low of $26.30 and a 1-year high of $38.12. The firm’s fifty day simple moving average is $29.37 and its 200-day simple moving average is $32.14.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Wednesday, November 4th. The utilities provider reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.02). Brookfield Renewable Partners had a negative net margin of 1.77% and a negative return on equity of 0.33%. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Analysts expect that Brookfield Renewable Partners L.P. will post -1.88 earnings per share for the current fiscal year.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns and operates a global portfolio of renewable power and sustainable energy assets. Its operations include hydroelectric, wind and solar generation, as well as battery storage and distributed energy businesses. The partnership serves markets across North America, South America, Europe and the Asia-Pacific region. It sells renewable electricity and related services to utilities, businesses and other customers. Brookfield Renewable traces its roots to Brookfield Asset Management’s renewable power business and operates as part of the Brookfield group.