Private Advisor Group LLC boosted its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP – Free Report) (TSE:BEP) by 47.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,537 shares of the utilities provider’s stock after acquiring an additional 10,521 shares during the period. Private Advisor Group LLC’s holdings in Brookfield Renewable Partners were worth $917,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares in the last quarter. Clearbridge Investments LLC grew its stake in Brookfield Renewable Partners by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock valued at $2,017,000 after acquiring an additional 768 shares in the last quarter. Tidal Investments LLC grew its stake in Brookfield Renewable Partners by 2.5% during the 1st quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock valued at $866,000 after acquiring an additional 894 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Brookfield Renewable Partners by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock valued at $6,988,000 after acquiring an additional 1,333 shares in the last quarter. Finally, SFE Investment Counsel grew its stake in Brookfield Renewable Partners by 3.1% during the 2nd quarter. SFE Investment Counsel now owns 51,927 shares of the utilities provider’s stock valued at $1,286,000 after acquiring an additional 1,580 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.
Analyst Upgrades and Downgrades
BEP has been the topic of several recent analyst reports. CIBC boosted their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $31.00 in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.78.
Brookfield Renewable Partners Stock Performance
Shares of BEP stock opened at $25.22 on Friday. The firm’s 50 day moving average price is $26.39 and its 200-day moving average price is $25.58. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56. The firm has a market cap of $7.19 billion, a P/E ratio of -39.41 and a beta of 0.94.
Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The company 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) earnings per share. The business’s revenue was up 23.0% compared to the same quarter last year. As a group, equities research analysts predict that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.
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.
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