Kayne Anderson Capital Advisors LP Acquires 172,028 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Kayne Anderson Capital Advisors LP boosted its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 105.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 334,822 shares of the utilities provider's stock after acquiring an additional 172,028 shares during the period. Brookfield Renewable Partners accounts for about 0.2% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 29th biggest position. Kayne Anderson Capital Advisors LP owned approximately 0.12% of Brookfield Renewable Partners worth $9,435,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in shares of Brookfield Renewable Partners by 2,229.4% in the 1st quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider's stock worth $593,000 after acquiring an additional 24,412 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Brookfield Renewable Partners by 17.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 20,725 shares of the utilities provider's stock worth $481,000 after buying an additional 3,048 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Brookfield Renewable Partners by 0.9% in the 1st quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider's stock worth $2,017,000 after buying an additional 768 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Brookfield Renewable Partners by 0.4% in the first quarter. Lake Street Advisors Group LLC now owns 1,410,941 shares of the utilities provider's stock valued at $32,776,000 after acquiring an additional 5,690 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Brookfield Renewable Partners by 12.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 304,570 shares of the utilities provider's stock valued at $7,075,000 after acquiring an additional 32,830 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Price Performance

NYSE:BEP traded down $0.25 during mid-day trading on Monday, reaching $24.93. The stock had a trading volume of 434,421 shares, compared to its average volume of 476,311. The stock has a market capitalization of $7.11 billion, a P/E ratio of -30.71 and a beta of 0.95. The firm has a 50 day moving average price of $26.60 and a two-hundred day moving average price of $25.97. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.52 and a current ratio of 0.73. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly 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). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $843.18 million. During the same period last year, the business posted ($0.14) earnings per share. As a group, analysts expect that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.70%. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -173.17%.

Analysts Set New Price Targets

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

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.