Oppenheimer & Co. Inc. Takes Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Oppenheimer & Co. Inc. purchased a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEPGet Rating) (TSE:BEP) during the second quarter, Holdings Channel reports. The institutional investor purchased 6,586 shares of the utilities provider’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also modified their holdings of BEP. Tompkins Financial Corp bought a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth about $25,000. Curi Wealth Management LLC acquired a new position in Brookfield Renewable Partners during the second quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. grew its holdings in Brookfield Renewable Partners by 216.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 950 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 650 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new position in Brookfield Renewable Partners during the second quarter valued at approximately $52,000. Finally, Geneos Wealth Management Inc. grew its holdings in Brookfield Renewable Partners by 363.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,275 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

BEP has been the topic of several analyst reports. Mizuho lowered their price target on Brookfield Renewable Partners from $38.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 30th. StockNews.com assumed coverage on Brookfield Renewable Partners in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada raised their price objective on shares of Brookfield Renewable Partners from $39.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Monday, August 8th. TD Securities assumed coverage on shares of Brookfield Renewable Partners in a research note on Tuesday, October 18th. They issued a “buy” rating on the stock. Finally, TheStreet downgraded shares of Brookfield Renewable Partners from a “c-” rating to a “d” rating in a research note on Friday, November 4th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus price target of $40.27.

Brookfield Renewable Partners Stock Down 1.7 %

BEP opened at $28.84 on Friday. Brookfield Renewable Partners L.P. has a fifty-two week low of $27.32 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s fifty day moving average price is $31.34 and its two-hundred day moving average price is $34.58. The company has a market capitalization of $7.94 billion, a P/E ratio of -51.50 and a beta of 0.71.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.32 per share. The ex-dividend date is Tuesday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 4.44%. Brookfield Renewable Partners’s dividend payout ratio is currently -228.57%.

Brookfield Renewable Partners Profile

(Get Rating)

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 hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

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

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