GAMMA Investing LLC Purchases 442 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

GAMMA Investing LLC increased its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 86.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 953 shares of the utilities provider’s stock after purchasing an additional 442 shares during the quarter. GAMMA Investing LLC’s holdings in Brookfield Renewable Partners were worth $27,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BEP. Dixon Mitchell Investment Counsel Inc. acquired a new position in Brookfield Renewable Partners during the first quarter worth approximately $31,000. Evermay Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners during the 1st quarter worth approximately $49,000. Clear Point Advisors Inc. bought a new stake in Brookfield Renewable Partners in the 1st quarter valued at $49,000. PNC Financial Services Group Inc. raised its stake in Brookfield Renewable Partners by 17.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after acquiring an additional 900 shares during the period. Finally, Cetera Advisors LLC acquired a new stake in Brookfield Renewable Partners during the 1st quarter valued at $243,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BEP has been the topic of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, National Bankshares boosted their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.30.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $28.33 on Friday. The stock has a market capitalization of $8.07 billion, a PE ratio of -61.58 and a beta of 0.94. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $28.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.52 and a quick ratio of 0.52. The business has a fifty day moving average price of $25.82 and a two-hundred day moving average price of $25.25.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned ($0.10) EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 5.01%. Brookfield Renewable Partners’s dividend payout ratio is -308.70%.

Brookfield Renewable Partners 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.