Guardian Partners Inc. Purchases New Stake in Brookfield Renewable Partners L.P. $BEP

Guardian Partners Inc. purchased a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the third quarter, Holdings Channel reports. The institutional investor purchased 167,244 shares of the utilities provider’s stock, valued at approximately $4,721,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sowell Financial Services LLC bought a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $270,000. Diversify Advisory Services LLC lifted its position in shares of Brookfield Renewable Partners by 1.9% during the third quarter. Diversify Advisory Services LLC now owns 27,068 shares of the utilities provider’s stock worth $776,000 after acquiring an additional 502 shares in the last quarter. Gold Investment Management Ltd. lifted its position in shares of Brookfield Renewable Partners by 3.4% during the third quarter. Gold Investment Management Ltd. now owns 110,904 shares of the utilities provider’s stock worth $3,123,000 after acquiring an additional 3,689 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Brookfield Renewable Partners by 5.0% in the third quarter. TD Waterhouse Canada Inc. now owns 1,125,447 shares of the utilities provider’s stock worth $31,986,000 after acquiring an additional 53,316 shares during the period. Finally, Triasima Portfolio Management inc. bought a new position in shares of Brookfield Renewable Partners in the third quarter worth $314,000. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Trading Up 3.4%

Shares of NYSE:BEP opened at $29.18 on Thursday. The company’s fifty day moving average price is $30.35 and its 200-day moving average price is $32.82. Brookfield Renewable Partners L.P. has a one year low of $26.30 and a one year high of $38.12. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.80 and a quick ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). Brookfield Renewable Partners had a net margin of 4.50% and a return on equity of 0.84%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.56 billion. As a group, analysts anticipate that Brookfield Renewable Partners L.P. will post -1.87 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a $0.3920 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Monday, August 31st. Brookfield Renewable Partners’s dividend payout ratio is currently -341.30%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BEP shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $41.00 price target on shares of Brookfield Renewable Partners in a research report on Friday, July 17th. Morgan Stanley dropped their price objective on Brookfield Renewable Partners from $42.00 to $37.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. BMO Capital Markets set a $41.00 price objective on Brookfield Renewable Partners in a report on Monday, August 17th. National Bank Financial set a $38.00 target price on Brookfield Renewable Partners and gave the stock an “outperform” rating in a research note on Thursday, October 1st. Finally, Zacks Research raised Brookfield Renewable Partners from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average target price of $37.14.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a global renewable power and sustainable solutions company. The partnership develops, owns and operates a diversified portfolio of renewable energy facilities, with hydroelectric generation complemented by onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy transition assets.

Through its operating platforms, Brookfield Renewable supplies electricity and related energy services to utilities, corporations and other customers.