Cibc World Market Inc. Raises Stake in Brookfield Renewable Partners L.P. $BEP

Cibc World Market Inc. raised its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,989,622 shares of the utilities provider’s stock after buying an additional 127,450 shares during the quarter. Cibc World Market Inc. owned approximately 1.05% of Brookfield Renewable Partners worth $80,809,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BEP. Kelleher Financial Advisors purchased a new stake in Brookfield Renewable Partners in the 3rd quarter valued at $26,000. Russell Investments Group Ltd. purchased a new stake in Brookfield Renewable Partners in the 2nd quarter valued at $34,000. Triumph Capital Management purchased a new stake in Brookfield Renewable Partners in the 3rd quarter valued at $55,000. Global Retirement Partners LLC grew 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 buying an additional 1,633 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in Brookfield Renewable Partners in the 3rd quarter valued at $81,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock opened at $36.45 on Thursday. Brookfield Renewable Partners L.P. has a 52 week low of $23.68 and a 52 week high of $38.12. The business’s fifty day simple moving average is $34.21 and its 200-day simple moving average is $30.95. The firm has a market cap of $11.05 billion, a PE ratio of -117.56 and a beta of 1.09. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.50 billion. Equities 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.3%. Brookfield Renewable Partners’s dividend payout ratio is presently -506.45%.

Wall Street Analysts Forecast Growth

BEP has been the subject of several analyst reports. Morgan Stanley upped their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Scotiabank restated an “outperform” rating and issued a $42.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a report on Friday, May 29th. Zacks Research lowered Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. TD Securities reaffirmed a “buy” rating and issued a $39.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. Finally, National Bank Financial upped their price target on 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. Eleven equities research analysts have rated the stock with a Buy rating and five have given 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 price target of $37.71.

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.