National Bank of Canada FI Has $24.71 Million Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

National Bank of Canada FI lessened its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,014,758 shares of the utilities provider’s stock after selling 3,346 shares during the quarter. National Bank of Canada FI’s holdings in Brookfield Renewable Partners were worth $24,711,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BEP. Private Advisor Group LLC acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter worth $281,000. Apollon Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter worth $234,000. Principal Securities Inc. acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter worth $77,000. Northwest Financial Advisors acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter worth $65,000. Finally, Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 6.4% during the 4th quarter. Principal Financial Group Inc. now owns 6,905,963 shares of the utilities provider’s stock worth $181,489,000 after purchasing an additional 415,667 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Analyst Ratings Changes

BEP has been the topic of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. TD Securities upped their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, Scotiabank upped their price objective on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $31.82.

Brookfield Renewable Partners Trading Down 2.4 %

Shares of BEP stock opened at $24.30 on Friday. Brookfield Renewable Partners L.P. has a 52-week low of $19.92 and a 52-week high of $28.81. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of -52.83 and a beta of 0.93. 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 fifty day moving average of $24.70 and a 200-day moving average of $24.46.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted ($0.10) EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -0.87 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -308.70%.

About Brookfield Renewable Partners

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.