Mirabella Financial Services LLP Raises Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Mirabella Financial Services LLP raised its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 145.2% during the third quarter, Holdings Channel.com reports. The firm owned 466,736 shares of the utilities provider’s stock after purchasing an additional 276,374 shares during the period. Mirabella Financial Services LLP’s holdings in Brookfield Renewable Partners were worth $13,153,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares in the last quarter. Clear Point Advisors Inc. purchased a new position in shares of Brookfield Renewable Partners in the first quarter valued at approximately $49,000. Waverton Investment Management Ltd acquired a new position in shares of Brookfield Renewable Partners in the third quarter valued at approximately $178,000. Creative Planning purchased a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $206,000. Finally, Aspiriant LLC purchased a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $241,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $25.17 on Monday. The stock’s 50-day simple moving average is $26.59 and its 200-day simple moving average is $25.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.64%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.17%.

Wall Street Analysts Forecast Growth

BEP has been the subject of several recent research reports. CIBC raised their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $24.00 to $31.00 in a report on Monday, September 30th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

About Brookfield Renewable Partners

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.