129,900 Shares in Brookfield Renewable Partners L.P. $BEP Acquired by K2 Principal Fund L.P.

K2 Principal Fund L.P. bought a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 129,900 shares of the utilities provider’s stock, valued at approximately $3,468,000.

Other large investors have also recently made changes to their positions in the company. BROOKFIELD Corp ON boosted its holdings in Brookfield Renewable Partners by 9.4% in the fourth quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after purchasing an additional 6,967,670 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock valued at $277,930,000 after purchasing an additional 177,599 shares in the last quarter. Bank of Montreal Can boosted its holdings in Brookfield Renewable Partners by 20.3% in the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock valued at $226,859,000 after purchasing an additional 1,415,989 shares in the last quarter. Morgan Stanley boosted its holdings in Brookfield Renewable Partners by 41.9% in the fourth quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock valued at $108,663,000 after purchasing an additional 1,189,130 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in Brookfield Renewable Partners by 4.5% in the fourth quarter. Cibc World Market Inc. now owns 2,989,622 shares of the utilities provider’s stock valued at $80,809,000 after purchasing an additional 127,450 shares in the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $40.00 price target (up from $37.00) on shares of Brookfield Renewable Partners in a report on Monday, April 20th. Morgan Stanley upped their price target on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Wall Street Zen downgraded Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. National Bank Financial upped their price target on Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.00.

Brookfield Renewable Partners Price Performance

BEP stock opened at $34.29 on Friday. The company has a market capitalization of $10.35 billion, a P/E ratio of -110.61 and a beta of 1.09. Brookfield Renewable Partners L.P. has a twelve month low of $24.13 and a twelve month high of $38.12. The business has a 50 day simple moving average of $34.76 and a 200-day simple moving average of $31.29. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

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

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -506.45%.

Brookfield Renewable Partners Company 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.