Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Acquired by MAI Capital Management

MAI Capital Management lifted its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 294.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,683 shares of the utilities provider's stock after purchasing an additional 64,695 shares during the period. MAI Capital Management's holdings in Brookfield Renewable Partners were worth $2,443,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock worth $27,000 after acquiring an additional 442 shares in the last quarter. Clear Point Advisors Inc. acquired a new position in Brookfield Renewable Partners in the first quarter valued at $49,000. Evermay Wealth Management LLC acquired a new position in Brookfield Renewable Partners in the first quarter valued at $49,000. Waverton Investment Management Ltd acquired a new position in Brookfield Renewable Partners in the third quarter valued at $178,000. Finally, Creative Planning acquired a new position in Brookfield Renewable Partners in the third quarter valued at $206,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BEP. JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, October 17th. StockNews.com lowered shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Friday, August 2nd. CIBC increased their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an "outperformer" rating in a report on Tuesday, October 22nd. Royal Bank of Canada reissued an "outperform" rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, UBS Group raised shares of Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and increased their price target for the stock from $24.00 to $31.00 in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and an average target price of $31.78.

Brookfield Renewable Partners Price Performance

BEP traded down $0.34 on Wednesday, hitting $24.98. 794,585 shares of the company were exchanged, compared to its average volume of 478,458. The business's fifty day moving average is $26.63 and its 200 day moving average is $25.97. The firm has a market capitalization of $7.12 billion, a P/E ratio of -30.46 and a beta of 0.95. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same quarter last year, the business posted ($0.14) EPS. As a group, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners's dividend payout ratio is currently -173.17%.

Brookfield Renewable Partners 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.