CCLA Investment Management Acquires 49,553 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

CCLA Investment Management boosted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,627,972 shares of the utilities provider's stock after purchasing an additional 49,553 shares during the quarter. CCLA Investment Management owned 0.92% of Brookfield Renewable Partners worth $59,838,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider's stock valued at $880,000 after acquiring an additional 403 shares during the last quarter. GAMMA Investing LLC boosted its position 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 during the last quarter. HighTower Advisors LLC boosted its holdings in Brookfield Renewable Partners by 1.6% during the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider's stock worth $1,321,000 after purchasing an additional 749 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Brookfield Renewable Partners by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider's stock valued at $394,000 after acquiring an additional 945 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Brookfield Renewable Partners in the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 63.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BEP shares. National Bankshares cut their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. StockNews.com downgraded shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Thursday, December 26th. UBS Group raised Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. CIBC raised their price objective on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a "neutral" rating to an "overweight" rating and set a $30.00 target price for the company in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Brookfield Renewable Partners has an average rating of "Moderate Buy" and an average price target of $32.44.

Brookfield Renewable Partners Price Performance

Shares of BEP stock traded down $0.59 during trading hours on Wednesday, reaching $20.91. The company's stock had a trading volume of 1,296,414 shares, compared to its average volume of 754,468. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. 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 market capitalization of $5.96 billion, a price-to-earnings ratio of -25.50 and a beta of 0.95. The firm's 50 day simple moving average is $24.22 and its 200-day simple moving average is $25.15.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the previous year, the firm posted ($0.14) EPS. Sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 6.79%. Brookfield Renewable Partners's dividend payout ratio is currently -173.17%.

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.