Brookfield Renewable Partners L.P. $BEP Holdings Boosted by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 10.3% in the fourth quarter, HoldingsChannel reports. The fund owned 310,100 shares of the utilities provider’s stock after buying an additional 28,900 shares during the quarter. Alberta Investment Management Corp’s holdings in Brookfield Renewable Partners were worth $8,380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Aviso Financial Inc. increased its holdings in shares of Brookfield Renewable Partners by 9.6% in the 3rd quarter. Aviso Financial Inc. now owns 8,338 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 733 shares during the period. Envestnet Asset Management Inc. raised its position in Brookfield Renewable Partners by 7.8% during the third quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock valued at $264,000 after acquiring an additional 742 shares in the last quarter. Allworth Financial LP raised its position in Brookfield Renewable Partners by 9.5% during the fourth quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock valued at $233,000 after acquiring an additional 750 shares in the last quarter. Tacita Capital Inc raised its position in Brookfield Renewable Partners by 0.7% during the fourth quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock valued at $3,220,000 after acquiring an additional 770 shares in the last quarter. Finally, Kelleher Financial Advisors bought a new position in shares of Brookfield Renewable Partners in the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

BEP has been the topic of a number of research reports. Wall Street Zen lowered shares of Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. National Bank Financial boosted their target price on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, TD Securities reaffirmed a “buy” rating and set a $39.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $34.29 on Wednesday. The firm has a market capitalization of $10.35 billion, a P/E ratio of -110.59 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a fifty day moving average price of $34.79 and a two-hundred day moving average price of $31.39. Brookfield Renewable Partners L.P. has a 52-week low of $24.13 and a 52-week high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. As a group, analysts anticipate that Brookfield Renewable Partners L.P. will post -1.53 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.6%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -506.45%.

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.