Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,059,557 shares of the utilities provider's stock after buying an additional 315,272 shares during the quarter. Bank of Montreal Can owned approximately 2.48% of Brookfield Renewable Partners worth $160,585,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in shares of Brookfield Renewable Partners by 102.4% during the fourth quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider's stock valued at $48,023,000 after acquiring an additional 1,065,590 shares in the last quarter. NEOS Investment Management LLC purchased a new position in Brookfield Renewable Partners during the 4th quarter worth $265,000. JPMorgan Chase & Co. increased its holdings in Brookfield Renewable Partners by 212.0% during the 4th quarter. JPMorgan Chase & Co. now owns 206,916 shares of the utilities provider's stock worth $4,716,000 after purchasing an additional 140,604 shares during the period. LPL Financial LLC raised its position in Brookfield Renewable Partners by 32.8% during the 4th quarter. LPL Financial LLC now owns 57,514 shares of the utilities provider's stock valued at $1,311,000 after purchasing an additional 14,194 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth $1,504,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

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Brookfield Renewable Partners Stock Down 0.2 %

Shares of Brookfield Renewable Partners stock traded down $0.05 during trading on Friday, reaching $21.32. The company's stock had a trading volume of 437,287 shares, compared to its average volume of 586,735. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56. The company has a 50-day simple moving average of $22.44 and a two-hundred day simple moving average of $23.80. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -23.96 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the prior year, the firm earned $0.01 earnings per share. As a group, equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.373 per share. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date was Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 7.00%. Brookfield Renewable Partners's dividend payout ratio is presently -167.42%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BEP. Wells Fargo & Company decreased their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Barclays initiated coverage on shares of Brookfield Renewable Partners in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price target for the company. National Bankshares dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Finally, Scotiabank upped their target price on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.18.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.