FIL Ltd Acquires 917,577 Shares of Brookfield Renewable Partners LP (NYSE:BEP)

FIL Ltd lifted its stake in Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 96.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,871,967 shares of the utilities provider’s stock after acquiring an additional 917,577 shares during the quarter. FIL Ltd owned approximately 1.05% of Brookfield Renewable Partners worth $59,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BerganKDV Wealth Management LLC increased its position in Brookfield Renewable Partners by 100.0% during the first quarter. BerganKDV Wealth Management LLC now owns 800 shares of the utilities provider’s stock worth $26,000 after buying an additional 400 shares during the last quarter. Horan Securities Inc. acquired a new position in Brookfield Renewable Partners during the first quarter worth $35,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Brookfield Renewable Partners during the fourth quarter worth $52,000. Truvestments Capital LLC acquired a new position in Brookfield Renewable Partners during the first quarter worth $54,000. Finally, BNP Paribas Arbitrage SA acquired a new position in Brookfield Renewable Partners during the first quarter worth $157,000. 53.40% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on BEP shares. ValuEngine raised shares of Brookfield Renewable Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Desjardins increased their target price on shares of Brookfield Renewable Partners from $44.50 to $45.00 in a research note on Friday, May 3rd. Zacks Investment Research cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, March 8th. TheStreet upgraded shares of Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research note on Monday, March 4th. Finally, Raymond James reiterated a “market perform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Brookfield Renewable Partners currently has a consensus rating of “Hold” and an average price target of $34.83.

BEP stock traded up $0.31 during midday trading on Monday, reaching $34.90. The company’s stock had a trading volume of 110,100 shares, compared to its average volume of 171,963. Brookfield Renewable Partners LP has a 52 week low of $24.51 and a 52 week high of $35.00. The stock has a market capitalization of $6.19 billion, a PE ratio of 268.46, a PEG ratio of 10.51 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s 50-day moving average price is $33.03.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $825.00 million during the quarter, compared to the consensus estimate of $839.76 million. Brookfield Renewable Partners had a net margin of 7.20% and a return on equity of 1.47%. Analysts predict that Brookfield Renewable Partners LP will post 0.47 earnings per share for the current year.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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