Principal Financial Group Inc. Acquires 330,648 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Principal Financial Group Inc. lifted its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,605,679 shares of the utilities provider’s stock after purchasing an additional 330,648 shares during the period. Principal Financial Group Inc.’s holdings in Brookfield Renewable Partners were worth $214,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BEP. Intact Investment Management Inc. purchased a new stake in Brookfield Renewable Partners during the third quarter worth $42,331,000. Triasima Portfolio Management inc. bought a new stake in Brookfield Renewable Partners during the second quarter valued at about $16,936,000. Liontrust Investment Partners LLP bought a new position in Brookfield Renewable Partners in the second quarter worth about $14,862,000. Price T Rowe Associates Inc. MD lifted its position in shares of Brookfield Renewable Partners by 103.3% during the first 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 buying an additional 595,335 shares during the last quarter. Finally, NewGen Asset Management Ltd bought a new stake in shares of Brookfield Renewable Partners in the 2nd quarter valued at about $6,188,000. 63.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BEP shares. CIBC increased their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. 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 boosted their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Trading Up 3.8 %

Shares of NYSE BEP opened at $26.18 on Friday. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56. The business’s 50 day moving average price is $26.45 and its 200 day moving average price is $25.74. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91.

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.