Principal Financial Group Inc. Grows Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Principal Financial Group Inc. grew its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,851,842 shares of the utilities provider's stock after acquiring an additional 246,163 shares during the period. Principal Financial Group Inc. owned 2.75% of Brookfield Renewable Partners worth $178,943,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Brookfield Renewable Partners in the 3rd quarter worth about $28,000. Allworth Financial LP bought a new position in Brookfield Renewable Partners in the 4th quarter worth about $68,000. Waverton Investment Management Ltd bought a new position in Brookfield Renewable Partners in the 3rd quarter worth about $178,000. Barclays PLC grew its stake in Brookfield Renewable Partners by 40.6% in the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider's stock worth $199,000 after acquiring an additional 2,036 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Brookfield Renewable Partners during the third quarter valued at approximately $206,000. 63.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BEP has been the topic of a number of recent research reports. Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. StockNews.com downgraded shares of Brookfield Renewable Partners from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. CIBC dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Renewable Partners has a consensus rating of "Buy" and an average price target of $30.50.

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Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock traded down $0.11 during trading on Friday, hitting $23.47. 528,775 shares of the company's stock were exchanged, compared to its average volume of 897,332. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The business has a 50-day simple moving average of $22.27 and a 200-day simple moving average of $24.52. Brookfield Renewable Partners L.P. has a 52-week low of $19.92 and a 52-week high of $29.56. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of -26.37 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter last year, the firm earned $0.01 EPS. On average, research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.373 dividend. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 annualized dividend and a dividend yield of 6.36%. Brookfield Renewable Partners's dividend payout ratio (DPR) is -167.42%.

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.