Apollon Wealth Management LLC Grows Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Apollon Wealth Management LLC boosted its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 7.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,999 shares of the utilities provider’s stock after acquiring an additional 945 shares during the period. Apollon Wealth Management LLC’s holdings in Brookfield Renewable Partners were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BEP. Intact Investment Management Inc. acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $42,331,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Brookfield Renewable Partners by 103.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock valued at $27,214,000 after purchasing an additional 595,335 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Brookfield Renewable Partners by 2,229.4% in the 1st quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider’s stock valued at $593,000 after purchasing an additional 24,412 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Brookfield Renewable Partners by 2.9% in the 2nd 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 during the last quarter. Finally, Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at $16,936,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BEP. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th. 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. reduced 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. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, CIBC lifted 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Trading Down 0.5 %

Brookfield Renewable Partners stock opened at $25.18 on Monday. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The company has a quick ratio of 0.52, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average price is $26.60 and its 200 day moving average price is $25.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. During the same period last year, the firm earned ($0.14) EPS. Analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is currently -173.17%.

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.