K2 Principal Fund L.P. Takes Position in Brookfield Renewable Partners L.P. $BEP

K2 Principal Fund L.P. acquired a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 129,900 shares of the utilities provider’s stock, valued at approximately $3,468,000.

Several other large investors have also modified their holdings of BEP. Barclays PLC lifted its holdings in shares of Brookfield Renewable Partners by 31.3% during the fourth quarter. Barclays PLC now owns 21,499 shares of the utilities provider’s stock worth $580,000 after purchasing an additional 5,122 shares during the period. Brown Advisory Inc. grew its position in Brookfield Renewable Partners by 22.9% in the 4th quarter. Brown Advisory Inc. now owns 72,485 shares of the utilities provider’s stock valued at $1,955,000 after buying an additional 13,523 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Brookfield Renewable Partners in the 4th quarter valued at $225,000. The Manufacturers Life Insurance Company grew its position in Brookfield Renewable Partners by 340.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,115,743 shares of the utilities provider’s stock valued at $30,207,000 after buying an additional 862,280 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its position in Brookfield Renewable Partners by 9.4% in the 4th quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after buying an additional 6,967,670 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BEP shares. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. TD lifted their price objective on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Morgan Stanley lifted their price objective on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Zacks Research lowered shares of Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $40.00 price objective (up from $37.00) on shares of Brookfield Renewable Partners in a research report on Monday, April 20th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Brookfield Renewable Partners Trading Down 3.1%

NYSE:BEP opened at $34.29 on Friday. The stock has a fifty day moving average price of $34.76 and a two-hundred day moving average price of $31.29. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of -110.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. Brookfield Renewable Partners L.P. has a 1 year low of $24.13 and a 1 year high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. As a group, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -1.53 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a $0.392 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.6%. Brookfield Renewable Partners’s dividend payout ratio is presently -506.45%.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.