Brookfield Renewable Partners L.P. $BEP Shares Purchased by Citigroup Inc.

Citigroup Inc. boosted its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 246.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 169,621 shares of the utilities provider’s stock after buying an additional 120,618 shares during the quarter. Citigroup Inc.’s holdings in Brookfield Renewable Partners were worth $4,373,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in shares of Brookfield Renewable Partners by 57.0% in the first quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider’s stock valued at $20,380,000 after acquiring an additional 333,789 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Brookfield Renewable Partners by 177.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 984,840 shares of the utilities provider’s stock valued at $25,126,000 after purchasing an additional 629,940 shares during the last quarter. SFE Investment Counsel lifted its holdings in Brookfield Renewable Partners by 11.2% in the 2nd quarter. SFE Investment Counsel now owns 59,062 shares of the utilities provider’s stock valued at $1,507,000 after purchasing an additional 5,971 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Brookfield Renewable Partners by 76.7% during the 2nd quarter. Allworth Financial LP now owns 5,300 shares of the utilities provider’s stock worth $135,000 after purchasing an additional 2,300 shares during the last quarter. Finally, S&CO Inc. purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth about $255,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP opened at $30.42 on Thursday. The business has a 50-day moving average of $29.42 and a two-hundred day moving average of $28.12. The firm has a market capitalization of $8.64 billion, a PE ratio of -117.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.58. Brookfield Renewable Partners L.P. has a 12 month low of $19.29 and a 12 month high of $32.78.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.88. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. As a group, research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.392 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a dividend yield of 5.2%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -603.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $38.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th. Desjardins raised Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th. Scotiabank restated an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Brookfield Renewable Partners in a report on Thursday, November 6th. Canadian Imperial Bank of Commerce assumed coverage on Brookfield Renewable Partners in a research note on Wednesday. They issued an “outperformer” rating and a $37.00 target price for the company. Finally, UBS Group reissued a “buy” rating and issued a $39.00 price target (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.93.

About Brookfield Renewable Partners

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.