NBC Securities Inc. Buys New Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

NBC Securities Inc. bought a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,924 shares of the utilities provider’s stock, valued at approximately $42,000.

Several other large investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp increased its holdings in Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after buying an additional 537 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Brookfield Renewable Partners by 3.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider’s stock worth $550,000 after buying an additional 724 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Brookfield Renewable Partners by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider’s stock worth $597,000 after buying an additional 725 shares during the last quarter. Barclays PLC lifted its position in shares of Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider’s stock worth $183,000 after buying an additional 951 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Brookfield Renewable Partners by 4.2% during the 4th quarter. Captrust Financial Advisors now owns 25,033 shares of the utilities provider’s stock worth $570,000 after buying an additional 1,012 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $26.05 on Friday. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of -29.27 and a beta of 0.98. The firm has a 50-day simple moving average of $23.10 and a 200-day simple moving average of $22.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. The business had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.73 billion. On average, equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 annualized dividend and a dividend yield of 5.73%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -147.52%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BEP. Barclays began coverage on shares of Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price objective for the company. Wells Fargo & Company dropped their price objective on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Wall Street Zen lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Scotiabank raised their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, CIBC dropped their price objective on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average price target of $29.13.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.