Truvestments Capital LLC boosted its position in shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 53.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 15,637 shares of the utilities provider’s stock after buying an additional 5,418 shares during the period. Truvestments Capital LLC’s holdings in Brookfield Renewable Partners were worth $635,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gradient Investments LLC purchased a new position in Brookfield Renewable Partners during the 3rd quarter worth $57,000. Walnut Private Equity Partners LLC bought a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $3,001,000. Lenox Wealth Advisors LLC bought a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $43,000. Mackenzie Financial Corp boosted its position in Brookfield Renewable Partners by 18.0% during the 2nd quarter. Mackenzie Financial Corp now owns 129,400 shares of the utilities provider’s stock valued at $4,476,000 after acquiring an additional 19,700 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in Brookfield Renewable Partners during the 2nd quarter valued at $194,000. Institutional investors own 53.95% of the company’s stock.
Shares of Brookfield Renewable Partners stock traded down $0.76 during trading on Thursday, reaching $41.45. The company’s stock had a trading volume of 254,533 shares, compared to its average volume of 172,407. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.60. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 318.85 and a beta of 0.48. Brookfield Renewable Partners LP has a 1-year low of $24.51 and a 1-year high of $42.50. The company has a 50-day simple moving average of $38.35 and a two-hundred day simple moving average of $34.74.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.21). The business had revenue of $787.00 million during the quarter. Brookfield Renewable Partners had a return on equity of 1.80% and a net margin of 9.16%.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were given a $1.03 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, August 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 9.94%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently 1,584.62%.
BEP has been the topic of several recent research reports. BMO Capital Markets set a $39.00 target price on Brookfield Renewable Partners and gave the company a “hold” rating in a research report on Friday, September 27th. Royal Bank of Canada increased their target price on Brookfield Renewable Partners from $37.00 to $39.00 and gave the company a “sector perform” rating in a research report on Monday, September 30th. Barclays increased their target price on Brookfield Renewable Partners from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Zacks Investment Research cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, TD Securities increased their target price on Brookfield Renewable Partners from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $40.11.
Brookfield Renewable Partners Profile
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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