Brookfield Renewable Partners L.P. $BEP Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 46.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 602,416 shares of the utilities provider’s stock after selling 513,327 shares during the period. The Manufacturers Life Insurance Company’s holdings in Brookfield Renewable Partners were worth $19,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kelleher Financial Advisors purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter worth about $26,000. Russell Investments Group Ltd. acquired a new position in Brookfield Renewable Partners in the second quarter valued at $34,000. CENTRAL TRUST Co acquired a new stake in Brookfield Renewable Partners during the 1st quarter worth approximately $55,000. Triumph Capital Management purchased a new position in Brookfield Renewable Partners in the third quarter valued at approximately $55,000. Finally, Global Retirement Partners LLC lifted its position in Brookfield Renewable Partners by 284.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock valued at $60,000 after buying an additional 1,633 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 0.7%

Shares of NYSE BEP opened at $32.89 on Friday. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of -71.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50-day simple moving average is $34.33 and its 200-day simple moving average is $32.70. Brookfield Renewable Partners L.P. has a 1 year low of $24.13 and a 1 year high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.56 billion. As a group, equities analysts anticipate that Brookfield Renewable Partners L.P. will post -1.55 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio is presently -506.45%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BEP. TD boosted their price objective on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. National Bank Financial increased their price target on Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Wall Street Zen cut Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $41.00 target price on shares of Brookfield Renewable Partners in a research report on Friday, July 17th. Finally, Zacks Research lowered Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Trending Headlines about Brookfield Renewable Partners

Here are the key news stories impacting Brookfield Renewable Partners this week:

• Positive Sentiment: Brookfield Renewable reported what management described as record second-quarter results, robust capital deployment, and its highest development activity levels. Revenue of $1.71 billion exceeded the $1.56 billion consensus estimate, supporting the view that demand for renewable power and the company’s growth pipeline remain strong. Brookfield Renewable Reports Strong Second Quarter Results
• Positive Sentiment: The company declared a quarterly distribution of $0.392 per share, payable September 29 to shareholders of record August 31. The annualized payout of approximately $1.568 represents a yield of about 4.8%, which may appeal to income-focused investors and help support the shares. Brookfield Renewable dividend announcement
• Positive Sentiment: A recent investment commentary presented Brookfield Renewable as a potentially lower-risk way to participate in the artificial-intelligence power boom than more speculative companies such as Bloom Energy. That positioning could attract investors seeking exposure to rising electricity demand through a diversified renewable-power operator. Bloom Energy Is Soaring: Is There a Better Way To Play The AI Power Boom?
• Neutral Sentiment: Analysts’ review of second-quarter operating metrics may provide additional context on performance versus estimates and the prior year, but the available report does not identify a specific new catalyst. Compared to Estimates, Brookfield Renewable Q2 Earnings
• Negative Sentiment: Reported EPS of negative $0.37 missed the negative $0.35 consensus estimate by $0.02. Despite the revenue beat, the earnings shortfall and low reported profitability could temper the positive reaction to the quarter.

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.