HB Wealth Management LLC Purchases Shares of 37,975 Brookfield Renewable Partners L.P. $BEP

HB Wealth Management LLC purchased a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the third quarter, Holdings Channel reports. The firm purchased 37,975 shares of the utilities provider’s stock, valued at approximately $979,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hilltop National Bank raised its stake in shares of Brookfield Renewable Partners by 37.6% during the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 500 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of Brookfield Renewable Partners by 2.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 29,600 shares of the utilities provider’s stock worth $763,000 after purchasing an additional 750 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Brookfield Renewable Partners by 5.3% during the third quarter. Apollon Wealth Management LLC now owns 17,060 shares of the utilities provider’s stock worth $440,000 after purchasing an additional 858 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Brookfield Renewable Partners by 5.4% during the 2nd quarter. Osaic Holdings Inc. now owns 23,468 shares of the utilities provider’s stock valued at $599,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Brookfield Renewable Partners in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $27.44 on Tuesday. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $32.72. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.91. The company has a market cap of $8.39 billion, a PE ratio of -31.91 and a beta of 1.12. The company’s 50 day moving average is $28.22 and its 200 day moving average is $27.09.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.22. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. Brookfield Renewable Partners had a net margin of 3.52% and a return on equity of 0.66%. On average, sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.26%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank Of Canada upped their target price on Brookfield Renewable Partners from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. UBS Group restated a “buy” rating and set a $39.00 price objective (up previously from $38.00) on shares of Brookfield Renewable Partners in a report on Friday, December 5th. CIBC set a $35.00 price objective on shares of Brookfield Renewable Partners and gave the company an “outperformer” rating in a research report on Thursday, November 6th. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Finally, Scotiabank restated an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Brookfield Renewable Partners in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.86.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.