Rempart Asset Management Inc. Increases Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Rempart Asset Management Inc. boosted its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 405,554 shares of the utilities provider’s stock after purchasing an additional 12,474 shares during the quarter. Brookfield Renewable Partners comprises approximately 2.5% of Rempart Asset Management Inc.’s holdings, making the stock its 22nd largest holding. Rempart Asset Management Inc. owned 0.14% of Brookfield Renewable Partners worth $11,966,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Lakewood Asset Management LLC purchased a new stake in Brookfield Renewable Partners in the 4th quarter worth $27,000. Financial Freedom LLC purchased a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. raised its position in shares of Brookfield Renewable Partners by 363.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,275 shares of the utilities provider’s stock valued at $52,000 after buying an additional 1,000 shares in the last quarter. Carl Stuart Investment Advisor Inc. purchased a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at about $4,265,627,000. Finally, Clear Street Markets LLC purchased a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.

Brookfield Renewable Partners Trading Up 1.0 %

Brookfield Renewable Partners stock traded up $0.27 during midday trading on Friday, reaching $26.25. The stock had a trading volume of 1,065,783 shares, compared to its average volume of 281,358. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. Brookfield Renewable Partners L.P. has a 52-week low of $23.62 and a 52-week high of $38.61. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of -43.75 and a beta of 0.80. The company has a fifty day moving average of $27.11 and a 200 day moving average of $29.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 4th. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.18). The company had revenue of $719.00 million during the quarter, compared to the consensus estimate of $798.25 million. Brookfield Renewable Partners had a return on equity of 1.24% and a net margin of 6.43%. On average, analysts anticipate that Brookfield Renewable Partners L.P. will post 0.13 earnings per share for the current fiscal year.

Brookfield Renewable Partners Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be paid a $0.3375 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.35 dividend on an annualized basis and a yield of 5.14%. Brookfield Renewable Partners’s dividend payout ratio is currently -225.00%.

Wall Street Analysts Forecast Growth

BEP has been the topic of several recent research reports. Scotiabank initiated coverage on shares of Brookfield Renewable Partners in a research report on Friday, June 23rd. They set an “outperform” rating on the stock. 888 restated a “maintains” rating on shares of Brookfield Renewable Partners in a research report on Tuesday, June 13th. Mizuho decreased their target price on shares of Brookfield Renewable Partners from $32.00 to $27.00 in a research report on Wednesday, August 9th. Finally, StockNews.com initiated coverage on shares of Brookfield Renewable Partners in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.17.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.