APG Asset Management N.V. Purchases 5,388 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

APG Asset Management N.V. lifted its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 0.3% in the 2nd quarter, Holdings Channel reports. The fund owned 1,747,150 shares of the utilities provider’s stock after acquiring an additional 5,388 shares during the quarter. APG Asset Management N.V.’s holdings in Brookfield Renewable Partners were worth $40,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BEP. FIL Ltd grew its stake in Brookfield Renewable Partners by 37.1% in the fourth 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 period. 1832 Asset Management L.P. increased its stake in shares of Brookfield Renewable Partners by 1.4% in the 4th quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after acquiring an additional 173,402 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 0.9% in the 2nd quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock worth $180,203,000 after acquiring an additional 66,794 shares in the last quarter. CIBC Asset Management Inc lifted its position in Brookfield Renewable Partners by 0.6% during the 2nd quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after acquiring an additional 37,836 shares during the period. Finally, CCLA Investment Management boosted its stake in Brookfield Renewable Partners by 1.9% during the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after acquiring an additional 47,734 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BEP. National Bankshares raised their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Scotiabank raised their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.90.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $28.30 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average price of $24.91 and a 200-day moving average price of $24.78. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $28.81. The firm has a market capitalization of $8.07 billion, a PE ratio of -61.52 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the firm posted ($0.10) EPS. As a group, equities research analysts expect that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -308.70%.

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.