Cadence Bank Invests $212,000 in Brookfield Renewable Partners L.P. (NYSE:BEP)

Cadence Bank bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,521 shares of the utilities provider’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Brookfield Renewable Partners by 103.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after buying an additional 595,335 shares in the last quarter. Tidal Investments LLC increased its stake in Brookfield Renewable Partners by 2.5% in the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock valued at $866,000 after purchasing an additional 894 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Brookfield Renewable Partners during the first quarter valued at about $329,000. Cetera Advisors LLC bought a new position in shares of Brookfield Renewable Partners during the 1st quarter worth about $243,000. Finally, Walnut Private Equity Partners LLC grew its stake in shares of Brookfield Renewable Partners by 3.9% in the 2nd quarter. Walnut Private Equity Partners LLC now owns 131,804 shares of the utilities provider’s stock valued at $3,265,000 after buying an additional 5,000 shares during the period. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 2.4 %

Brookfield Renewable Partners stock opened at $26.34 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market cap of $7.51 billion, a PE ratio of -32.12 and a beta of 0.95. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The firm’s 50-day simple moving average is $26.57 and its 200 day simple moving average is $25.92.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the previous year, the firm earned ($0.14) EPS. Research analysts predict that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

Analyst Ratings Changes

BEP has been the subject of a number of research reports. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. CIBC boosted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average target price of $31.78.

About Brookfield Renewable Partners

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.