26,389 Shares in Brookfield Renewable Partners L.P. $BEP Bought by Diversify Wealth Management LLC

Diversify Wealth Management LLC bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,389 shares of the utilities provider’s stock, valued at approximately $847,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kelleher Financial Advisors acquired a new stake in Brookfield Renewable Partners in the third quarter worth about $26,000. Russell Investments Group Ltd. acquired a new position in shares of Brookfield Renewable Partners during the second quarter valued at about $34,000. CENTRAL TRUST Co purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter valued at approximately $55,000. Triumph Capital Management purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at approximately $55,000. Finally, Global Retirement Partners LLC boosted its stake in Brookfield Renewable Partners by 284.5% in the 4th quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 1,633 shares in the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Down 2.1%

BEP stock opened at $31.82 on Friday. The firm’s fifty day simple moving average is $34.80 and its 200-day simple moving average is $32.35. The company has a market capitalization of $9.55 billion, a P/E ratio of -102.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Renewable Partners L.P. has a 12 month low of $24.13 and a 12 month high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations 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, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.53 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were paid a dividend of $0.392 per share. The ex-dividend date was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.9%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -506.45%.

Analysts Set New Price Targets

BEP has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Scotiabank reissued an “outperform” rating and issued a $42.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a research report on Friday, May 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Wednesday, June 24th. Morgan Stanley boosted their price target on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Finally, TD Securities reissued a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $38.00.

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.