Brookfield Renewable Partners L.P. $BEP Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,305,148 shares of the utilities provider’s stock after purchasing an additional 177,599 shares during the quarter. Principal Financial Group Inc.’s holdings in Brookfield Renewable Partners were worth $277,930,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Kelleher Financial Advisors bought a new position in Brookfield Renewable Partners in the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the 2nd quarter worth approximately $34,000. Root Financial Partners LLC bought a new position in Brookfield Renewable Partners in the 3rd quarter worth approximately $46,000. Triumph Capital Management bought a new position in Brookfield Renewable Partners in the 3rd quarter worth approximately $55,000. Finally, JCIC Asset Management Inc. bought a new position in Brookfield Renewable Partners in the 3rd quarter worth approximately $72,000. 63.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BEP has been the subject of a number of recent analyst reports. National Bank Financial increased their target price on shares of Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research report on Monday. TD Securities reiterated a “buy” rating and issued a $39.00 target price on shares of Brookfield Renewable Partners in a research report on Monday. Wall Street Zen lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley increased their target price 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. Finally, Zacks Research raised Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and a consensus target price of $37.21.

Brookfield Renewable Partners Stock Performance

BEP opened at $33.69 on Wednesday. The firm has a market cap of $10.22 billion, a PE ratio of -108.66 and a beta of 1.06. The company has a quick ratio of 0.57, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $32.44 and a 200-day simple moving average of $30.14. Brookfield Renewable Partners L.P. has a fifty-two week low of $22.25 and a fifty-two week high of $35.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. As a group, equities analysts predict that Brookfield Renewable Partners L.P. will post -1.18 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be issued a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, May 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -506.45%.

About Brookfield Renewable Partners

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.