State of Wisconsin Investment Board Buys 2,732,542 Shares of Brookfield Renewable Partners L.P. $BEP

State of Wisconsin Investment Board lifted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 128.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,867,084 shares of the utilities provider’s stock after acquiring an additional 2,732,542 shares during the quarter. State of Wisconsin Investment Board’s holdings in Brookfield Renewable Partners were worth $131,265,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Brookfield Renewable Partners by 57.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider’s stock worth $20,380,000 after buying an additional 333,789 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners in the second quarter valued at approximately $34,000. Cresset Asset Management LLC boosted its position in shares of Brookfield Renewable Partners by 42.8% in the second quarter. Cresset Asset Management LLC now owns 20,031 shares of the utilities provider’s stock valued at $511,000 after acquiring an additional 6,000 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Brookfield Renewable Partners in the second quarter valued at approximately $648,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Brookfield Renewable Partners by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 1,490,603 shares of the utilities provider’s stock valued at $38,025,000 after acquiring an additional 62,774 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 1.0%

Brookfield Renewable Partners stock opened at $34.29 on Wednesday. The business has a 50 day moving average price of $34.79 and a two-hundred day moving average price of $31.39. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of -110.59 and a beta of 1.09. Brookfield Renewable Partners L.P. has a 12 month low of $24.13 and a 12 month high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. As a group, equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.53 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

BEP has been the subject of several research reports. UBS Group reissued a “buy” rating and issued a $40.00 price objective (up from $39.00) on shares of Brookfield Renewable Partners in a research report on Friday. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $40.00 price objective (up from $37.00) on shares of Brookfield Renewable Partners in a research report on Monday, April 20th. JPMorgan Chase & Co. increased their price objective on Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Wall Street Zen cut Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Finally, TD Securities reissued a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

About Brookfield Renewable Partners

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.