219,681 Shares in Brookfield Renewable Partners L.P. (NYSE:BEP) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC purchased a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 219,681 shares of the utilities provider's stock, valued at approximately $6,191,000. Sequoia Financial Advisors LLC owned 0.08% of Brookfield Renewable Partners at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 442 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Brookfield Renewable Partners in the 1st quarter worth $31,000. Evermay Wealth Management LLC purchased a new position in Brookfield Renewable Partners in the 1st quarter valued at about $49,000. Clear Point Advisors Inc. acquired a new stake in shares of Brookfield Renewable Partners during the first quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Brookfield Renewable Partners by 17.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider's stock valued at $156,000 after acquiring an additional 900 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BEP shares. UBS Group upgraded shares of Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. StockNews.com lowered shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, October 17th. National Bankshares upped their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an "outperform" rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded down $0.36 on Wednesday, hitting $27.86. The company had a trading volume of 772,226 shares, compared to its average volume of 478,354. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a market cap of $7.94 billion, a PE ratio of -61.35 and a beta of 0.94. The business has a 50-day simple moving average of $25.99 and a 200-day simple moving average of $25.36. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted ($0.10) EPS. The firm's quarterly revenue was up 23.0% on a year-over-year basis. Research analysts expect that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.10%. The ex-dividend date was Friday, August 30th. Brookfield Renewable Partners's dividend payout ratio is presently -308.70%.

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.