Clearbridge Investments LLC Acquires 649,509 Shares of Brookfield Renewable Partners L.P. $BEP

Clearbridge Investments LLC grew its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1,145.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 706,237 shares of the utilities provider’s stock after buying an additional 649,509 shares during the quarter. Clearbridge Investments LLC owned approximately 0.25% of Brookfield Renewable Partners worth $19,047,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kelleher Financial Advisors bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth about $26,000. Russell Investments Group Ltd. acquired a new position in Brookfield Renewable Partners in the 2nd quarter valued at about $34,000. Triumph Capital Management bought a new stake in Brookfield Renewable Partners in the 3rd quarter valued at about $55,000. Global Retirement Partners LLC boosted its holdings 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 valued at $60,000 after purchasing an additional 1,633 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Brookfield Renewable Partners by 57.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,835 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 1,403 shares during the period. 63.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BEP shares. Scotiabank reissued an “outperform” rating and issued a $42.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Friday, May 29th. Wall Street Zen cut shares of Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. TD raised their price target on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, May 4th. National Bank Financial raised their price objective on shares of Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $40.00 price objective (up from $37.00) on shares of Brookfield Renewable Partners in a research note on Monday, April 20th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.71.

Brookfield Renewable Partners Trading Down 0.2%

Shares of Brookfield Renewable Partners stock opened at $36.48 on Wednesday. The firm has a market cap of $11.06 billion, a PE ratio of -117.67 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. Brookfield Renewable Partners L.P. has a 1 year low of $24.13 and a 1 year high of $38.12. The company has a 50 day simple moving average of $34.61 and a two-hundred day simple moving average of $31.17.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data 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). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Analysts expect that Brookfield Renewable Partners L.P. will post -1.53 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a $0.392 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Renewable Partners’s dividend payout ratio 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.