PNC Financial Services Group Inc. Raises Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

PNC Financial Services Group Inc. raised its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 17.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,926 shares of the utilities provider’s stock after purchasing an additional 900 shares during the period. PNC Financial Services Group Inc.’s holdings in Brookfield Renewable Partners were worth $156,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Brookfield Renewable Partners by 10.6% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 271,740 shares of the utilities provider’s stock worth $7,141,000 after buying an additional 26,127 shares in the last quarter. Wellington Management Group LLP raised its stake in Brookfield Renewable Partners by 5.5% in the 4th quarter. Wellington Management Group LLP now owns 84,030 shares of the utilities provider’s stock valued at $2,218,000 after purchasing an additional 4,383 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Brookfield Renewable Partners in the 4th quarter valued at $30,000. FIL Ltd boosted its stake in Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after purchasing an additional 3,474,522 shares during the last quarter. Finally, Fort Sheridan Advisors LLC grew its holdings in shares of Brookfield Renewable Partners by 8.9% during the fourth quarter. Fort Sheridan Advisors LLC now owns 70,873 shares of the utilities provider’s stock worth $1,863,000 after buying an additional 5,781 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 2.3 %

Brookfield Renewable Partners stock opened at $25.36 on Thursday. The company has a market capitalization of $7.23 billion, a PE ratio of -55.13 and a beta of 0.92. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $30.32. The firm has a 50 day moving average price of $26.11 and a 200 day moving average price of $24.78.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The firm had revenue of $875.00 million during the quarter, compared to analyst estimates of $828.39 million. Research analysts expect that Brookfield Renewable Partners L.P. will post -0.49 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.60%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -308.69%.

Wall Street Analysts Forecast Growth

BEP has been the subject of a number of recent research reports. TD Securities increased their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. CIBC upped their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Scotiabank raised their target price 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. Raymond James lowered their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. Finally, BMO Capital Markets raised their price objective on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.17.

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.