Rockefeller Capital Management L.P. Acquires 33,194 Shares of Brookfield Renewable Partners L.P. $BEP

Rockefeller Capital Management L.P. raised its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546,696 shares of the utilities provider’s stock after purchasing an additional 33,194 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Brookfield Renewable Partners were worth $13,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Brookfield Renewable Partners by 2.3% in the 1st quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider’s stock worth $373,164,000 after buying an additional 374,087 shares during the last quarter. Bank of Montreal Can raised its position in Brookfield Renewable Partners by 0.8% in the second quarter. Bank of Montreal Can now owns 6,550,512 shares of the utilities provider’s stock worth $167,123,000 after acquiring an additional 48,802 shares during the period. TD Asset Management Inc boosted its stake in Brookfield Renewable Partners by 30.1% in the first quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider’s stock valued at $65,866,000 after acquiring an additional 689,196 shares during the last quarter. CCLA Investment Management grew its position in shares of Brookfield Renewable Partners by 1.3% during the 1st quarter. CCLA Investment Management now owns 2,661,405 shares of the utilities provider’s stock valued at $58,923,000 after acquiring an additional 33,433 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Brookfield Renewable Partners by 17.1% during the 1st quarter. National Bank of Canada FI now owns 2,466,957 shares of the utilities provider’s stock worth $54,395,000 after purchasing an additional 360,693 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 29th. Royal Bank Of Canada raised their target price on Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. CIBC set a $35.00 price target on Brookfield Renewable Partners and gave the company an “outperformer” rating in a research report on Thursday, November 6th. Desjardins increased their price target on Brookfield Renewable Partners from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Finally, BMO Capital Markets set a $36.00 price objective on Brookfield Renewable Partners and gave the stock an “outperform” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Brookfield Renewable Partners Trading Down 0.9%

Shares of BEP stock opened at $28.62 on Wednesday. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of -30.13 and a beta of 1.16. The company’s fifty day simple moving average is $27.92 and its two-hundred day simple moving average is $26.17. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $32.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.22. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%.The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.61 billion. As a group, analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable Partners’s payout ratio is presently -173.26%.

Brookfield Renewable Partners Company Profile

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.