Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 8.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 328,066 shares of the utilities provider’s stock after purchasing an additional 24,467 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.12% of Brookfield Renewable Partners worth $9,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after acquiring an additional 330,648 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Brookfield Renewable Partners by 0.6% in the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after acquiring an additional 37,836 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Brookfield Renewable Partners by 0.4% during the 3rd quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after purchasing an additional 26,189 shares during the period. CCLA Investment Management increased its position in shares of Brookfield Renewable Partners by 1.9% during the second quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after acquiring an additional 47,734 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Brookfield Renewable Partners by 2.9% during the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after purchasing an additional 67,777 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on BEP shares. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped 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 report on Thursday, October 17th. UBS Group raised shares of 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. CIBC upped their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Trading Up 0.2 %

NYSE:BEP opened at $26.03 on Friday. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The business’s 50-day moving average is $26.56 and its two-hundred day moving average is $25.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $7.42 billion, a PE ratio of -31.74 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter in the prior year, the company earned ($0.14) EPS. Research analysts predict that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.46%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is currently -173.17%.

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.