International Assets Investment Management LLC Takes $4.88 Million Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

International Assets Investment Management LLC purchased a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,331 shares of the utilities provider’s stock, valued at approximately $4,880,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in shares of Brookfield Renewable Partners by 47.8% in the 3rd quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 10,521 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Brookfield Renewable Partners in the 3rd quarter worth about $6,191,000. Aspiriant LLC bought a new stake in Brookfield Renewable Partners in the third quarter worth about $241,000. Creative Planning purchased a new position in shares of Brookfield Renewable Partners during the third quarter valued at approximately $206,000. Finally, GAMMA Investing LLC grew its stake in shares of Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Down 1.7 %

Shares of NYSE:BEP opened at $25.22 on Friday. The company has a market capitalization of $7.19 billion, a PE ratio of -39.41 and a beta of 0.94. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The business’s fifty day simple moving average is $26.39 and its 200-day simple moving average is $25.58.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. As a group, equities research analysts predict that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BEP has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $31.00 in a report on Monday, September 30th. Finally, National Bankshares raised their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners 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.