PFG Investments LLC Has $1.65 Million Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

PFG Investments LLC lowered its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 10.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,463 shares of the utilities provider’s stock after selling 8,129 shares during the quarter. PFG Investments LLC’s holdings in Brookfield Renewable Partners were worth $1,646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BEP. Private Advisor Group LLC acquired a new stake in Brookfield Renewable Partners in the 4th quarter valued at approximately $281,000. Apollon Wealth Management LLC acquired a new stake in Brookfield Renewable Partners in the 4th quarter valued at approximately $234,000. Principal Securities Inc. acquired a new stake in Brookfield Renewable Partners in the 4th quarter valued at approximately $77,000. CCLA Investment Management grew its holdings in Brookfield Renewable Partners by 37.2% in the 4th quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock valued at $65,558,000 after buying an additional 676,754 shares during the last quarter. Finally, Guardian Capital LP grew its holdings in Brookfield Renewable Partners by 17.9% in the 4th quarter. Guardian Capital LP now owns 456,340 shares of the utilities provider’s stock valued at $12,047,000 after buying an additional 69,400 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of BEP stock opened at $24.18 on Tuesday. The stock’s fifty day simple moving average is $24.69 and its 200 day simple moving average is $24.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of -52.57 and a beta of 0.93. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $28.81.

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

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.87%. Brookfield Renewable Partners’s dividend payout ratio is -308.70%.

Analysts Set New Price Targets

A number of analysts have commented on the company. TD Securities raised their price objective on Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. National Bankshares raised 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 reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $31.82.

About Brookfield Renewable Partners

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.