12,350 Shares in Brookfield Renewable Partners L.P. (NYSE:BEP) Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC acquired a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 12,350 shares of the utilities provider’s stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares during the period. Clear Point Advisors Inc. bought a new stake in shares of Brookfield Renewable Partners in the 1st quarter worth about $49,000. Evermay Wealth Management LLC purchased a new position in shares of Brookfield Renewable Partners during the 1st quarter worth about $49,000. Creative Planning bought a new position in Brookfield Renewable Partners during the 3rd quarter valued at about $206,000. Finally, Aspiriant LLC purchased a new stake in Brookfield Renewable Partners in the 3rd quarter worth about $241,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 0.8 %

Shares of Brookfield Renewable Partners stock opened at $26.42 on Monday. 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 stock has a market cap of $7.53 billion, a price-to-earnings ratio of -32.22 and a beta of 0.95. The firm’s 50-day moving average is $26.52 and its two-hundred day moving average is $25.81. Brookfield Renewable Partners L.P. has a 1 year low of $19.92 and a 1 year high of $29.56.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is -173.17%.

Analysts Set New Price Targets

Several brokerages have issued reports on BEP. National Bankshares boosted their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. dropped their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, CIBC raised their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has assigned 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.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average price target of $31.78.

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.