Brookfield Renewable Partners L.P. $BEP Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. increased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,989,622 shares of the utilities provider’s stock after acquiring an additional 127,450 shares during the period. Cibc World Market Inc.’s holdings in Brookfield Renewable Partners were worth $80,809,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ovata Capital Management Ltd acquired a new position in Brookfield Renewable Partners during the 3rd quarter worth about $4,511,000. Citigroup Inc. lifted its stake in Brookfield Renewable Partners by 246.1% during the 3rd quarter. Citigroup Inc. now owns 169,621 shares of the utilities provider’s stock worth $4,373,000 after acquiring an additional 120,618 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Brookfield Renewable Partners by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock worth $277,930,000 after acquiring an additional 177,599 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in Brookfield Renewable Partners by 95.6% during the 3rd quarter. Picton Mahoney Asset Management now owns 1,070,639 shares of the utilities provider’s stock worth $27,589,000 after acquiring an additional 523,263 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Brookfield Renewable Partners during the 3rd quarter worth about $19,944,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BEP. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $40.00 price target (up from $37.00) on shares of Brookfield Renewable Partners in a report on Monday, April 20th. Scotiabank restated an “outperform” rating and set a $42.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a report on Friday, May 29th. TD Securities restated a “buy” rating and set a $39.00 price target on shares of Brookfield Renewable Partners in a report on Monday, May 4th. TD upped their price target on Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average price target of $37.71.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $36.45 on Thursday. Brookfield Renewable Partners L.P. has a 1-year low of $23.68 and a 1-year high of $38.12. The company has a market cap of $11.05 billion, a price-to-earnings ratio of -117.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50-day moving average is $34.21 and its two-hundred day moving average is $30.95.

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

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be issued a $0.392 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Renewable Partners’s dividend payout ratio is presently -506.45%.

Brookfield Renewable Partners Company 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.