553,783 Shares in Brookfield Renewable Partners L.P. $BEP Bought by Deltroit Asset Management UK LLP

Deltroit Asset Management UK LLP purchased a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 553,783 shares of the utilities provider’s stock, valued at approximately $14,936,000. Brookfield Renewable Partners accounts for 2.2% of Deltroit Asset Management UK LLP’s investment portfolio, making the stock its 14th largest position. Deltroit Asset Management UK LLP owned approximately 0.20% of Brookfield Renewable Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in shares of Brookfield Renewable Partners by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock worth $277,930,000 after purchasing an additional 177,599 shares during the period. Bank of Montreal Can increased its position in shares of Brookfield Renewable Partners by 6.5% in the third quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock worth $179,837,000 after purchasing an additional 428,446 shares during the period. Cibc World Market Inc. increased its position in shares of Brookfield Renewable Partners by 4.5% in the fourth quarter. Cibc World Market Inc. now owns 2,989,622 shares of the utilities provider’s stock worth $80,809,000 after purchasing an additional 127,450 shares during the period. Scotia Capital Inc. increased its position in shares of Brookfield Renewable Partners by 2.5% in the third quarter. Scotia Capital Inc. now owns 2,751,581 shares of the utilities provider’s stock worth $70,795,000 after purchasing an additional 67,481 shares during the period. Finally, National Bank of Canada FI boosted its stake in Brookfield Renewable Partners by 8.4% in the third quarter. National Bank of Canada FI now owns 2,697,265 shares of the utilities provider’s stock valued at $69,226,000 after buying an additional 207,985 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $36.54 on Friday. The business’s 50-day moving average price is $34.41 and its 200-day moving average price is $31.04. Brookfield Renewable Partners L.P. has a 12 month low of $23.80 and a 12 month high of $38.12. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of -117.87 and a beta of 1.09. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

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

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.3%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -506.45%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. National Bank Financial raised their price objective on Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. TD raised their price target on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Scotiabank restated an “outperform” rating and issued a $42.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Friday, May 29th. JPMorgan Chase & Co. raised their price target on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Morgan Stanley raised their price target on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.71.

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.