Principal Financial Group Inc. Has $214.33 Million Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Principal Financial Group Inc. lifted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,605,679 shares of the utilities provider's stock after acquiring an additional 330,648 shares during the quarter. Principal Financial Group Inc. owned about 2.67% of Brookfield Renewable Partners worth $214,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its position in shares of Brookfield Renewable Partners by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider's stock valued at $880,000 after purchasing an additional 403 shares during the period. GAMMA Investing LLC boosted its stake in 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 buying an additional 442 shares in the last quarter. HighTower Advisors LLC grew 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 acquiring an additional 749 shares during the period. Apollon Wealth Management LLC raised its position in 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 worth $394,000 after acquiring an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. Institutional investors own 63.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group raised shares of Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a "neutral" rating to an "overweight" rating and set a $30.00 price target on the stock in a research report on Thursday, December 12th. StockNews.com upgraded Brookfield Renewable Partners from a "sell" rating to a "hold" rating in a research report on Wednesday. Royal Bank of Canada restated an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, CIBC boosted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an "outperformer" rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Renewable Partners has an average rating of "Buy" and an average target price of $31.78.

Brookfield Renewable Partners Stock Up 1.6 %

Shares of Brookfield Renewable Partners stock traded up $0.36 during midday trading on Friday, hitting $22.95. The company's stock had a trading volume of 553,581 shares, compared to its average volume of 488,018. The firm has a market capitalization of $6.54 billion, a P/E ratio of -27.99 and a beta of 0.93. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a 50-day simple moving average of $25.69 and a 200-day simple moving average of $25.55.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the business posted ($0.14) earnings per share. As a group, sell-side analysts expect that Brookfield Renewable Partners L.P. will post -0.88 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. Shareholders of record on Friday, November 29th will be paid a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 6.19%. Brookfield Renewable Partners's dividend payout ratio is presently -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.