HighTower Advisors LLC Raises Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

HighTower Advisors LLC increased its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,845 shares of the utilities provider’s stock after buying an additional 749 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield Renewable Partners were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in BEP. Intact Investment Management Inc. purchased a new position in Brookfield Renewable Partners in the third quarter valued at about $42,331,000. MAI Capital Management raised its position in Brookfield Renewable Partners by 294.2% in the third quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock valued at $2,443,000 after purchasing an additional 64,695 shares during the period. Mirabella Financial Services LLP raised its position in Brookfield Renewable Partners by 145.2% in the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after purchasing an additional 276,374 shares during the period. TD Asset Management Inc raised its position in Brookfield Renewable Partners by 2.9% in the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock valued at $58,805,000 after purchasing an additional 67,777 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its position in Brookfield Renewable Partners by 105.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 334,822 shares of the utilities provider’s stock valued at $9,435,000 after purchasing an additional 172,028 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $23.84 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of -29.07 and a beta of 0.93. The company has a 50 day moving average of $25.87 and a 200-day moving average of $25.62. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same period in the prior year, the business earned ($0.14) EPS. On average, equities analysts forecast that Brookfield Renewable Partners L.P. will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 5.96%. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Analyst Ratings Changes

BEP has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC raised their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Thursday, December 12th. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $31.00 in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Buy” and an average target price of $31.89.

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.