1,500,957 Shares in Brookfield Renewable Partners L.P. (NYSE:BEP) Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. acquired a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,500,957 shares of the utilities provider's stock, valued at approximately $42,331,000. Brookfield Renewable Partners comprises approximately 1.4% of Intact Investment Management Inc.'s investment portfolio, making the stock its 18th biggest holding. Intact Investment Management Inc. owned approximately 0.53% of Brookfield Renewable Partners as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BEP. Triasima Portfolio Management inc. purchased a new position in Brookfield Renewable Partners during the 2nd quarter worth approximately $16,936,000. Liontrust Investment Partners LLP acquired a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at $14,862,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Brookfield Renewable Partners by 103.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider's stock valued at $27,214,000 after acquiring an additional 595,335 shares during the period. NewGen Asset Management Ltd purchased a new stake in Brookfield Renewable Partners in the 2nd quarter valued at $6,188,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth $6,191,000. Institutional investors and hedge funds own 63.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BEP shares. CIBC lifted their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an "outperformer" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, October 17th. National Bankshares increased their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, UBS Group upgraded Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and upped their price target for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.78.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded up $1.13 during trading on Monday, reaching $26.34. The company's stock had a trading volume of 535,345 shares, compared to its average volume of 476,623. The business has a 50 day moving average price of $26.39 and a 200-day moving average price of $25.66. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The company has a market capitalization of $7.51 billion, a P/E ratio of -40.52 and a beta of 0.95. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.41). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. 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 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.