State of Wisconsin Investment Board Has $131.27 Million Stock Holdings in Brookfield Renewable Partners L.P. $BEP

State of Wisconsin Investment Board increased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 128.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,867,084 shares of the utilities provider’s stock after buying an additional 2,732,542 shares during the quarter. State of Wisconsin Investment Board owned 1.71% of Brookfield Renewable Partners worth $131,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ovata Capital Management Ltd purchased a new position in shares of Brookfield Renewable Partners during the third quarter valued at $4,511,000. Citigroup Inc. grew its holdings in shares of Brookfield Renewable Partners by 246.1% during the third quarter. Citigroup Inc. now owns 169,621 shares of the utilities provider’s stock valued at $4,373,000 after buying an additional 120,618 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield Renewable Partners by 1.8% during the fourth quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock valued at $277,930,000 after buying an additional 177,599 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Brookfield Renewable Partners by 95.6% during the third quarter. Picton Mahoney Asset Management now owns 1,070,639 shares of the utilities provider’s stock valued at $27,589,000 after buying an additional 523,263 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Brookfield Renewable Partners during the third quarter valued at $19,944,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BEP shares. Zacks Research downgraded Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Morgan Stanley boosted their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Friday, March 27th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $40.00 target price (up from $37.00) on shares of Brookfield Renewable Partners in a research note on Monday, April 20th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $34.29 on Wednesday. The business’s 50-day moving average price is $34.79 and its two-hundred day moving average price is $31.39. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Renewable Partners L.P. has a one year low of $24.13 and a one year high of $38.12. The company has a market capitalization of $10.35 billion, a P/E ratio of -110.59 and a beta of 1.09.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. Analysts anticipate that Brookfield Renewable Partners L.P. will post -1.53 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, May 29th. Brookfield Renewable Partners’s dividend payout ratio is -506.45%.

Brookfield Renewable Partners 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.