Arkadios Wealth Advisors Makes New $272,000 Investment in Brookfield Renewable Partners L.P. (NYSE:BEP)

Arkadios Wealth Advisors purchased a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,662 shares of the utilities provider’s stock, valued at approximately $272,000.

Several other hedge funds have also recently modified their holdings of BEP. Principal Financial Group Inc. raised its stake in Brookfield Renewable Partners by 0.9% in the second quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock worth $180,203,000 after buying an additional 66,794 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Brookfield Renewable Partners by 0.6% in the 2nd quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock worth $171,010,000 after acquiring an additional 37,836 shares in the last quarter. CCLA Investment Management lifted its stake in shares of Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after purchasing an additional 47,734 shares during the last quarter. TD Asset Management Inc boosted its position in Brookfield Renewable Partners by 2.9% during the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock valued at $58,805,000 after purchasing an additional 67,777 shares in the last quarter. Finally, APG Asset Management N.V. grew its stake in Brookfield Renewable Partners by 0.3% in the second quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock valued at $40,327,000 after purchasing an additional 5,388 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Down 0.5 %

Brookfield Renewable Partners stock opened at $25.66 on Friday. 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 business’s 50-day simple moving average is $26.37 and its two-hundred day simple moving average is $25.55. The company has a market cap of $7.32 billion, a PE ratio of -40.09 and a beta of 0.94. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56.

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

Analyst Upgrades and Downgrades

Several research firms have commented on BEP. CIBC increased their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. National Bankshares upped their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $31.00 in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. reduced their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

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.