Advisors Capital Management LLC Invests $3.89 Million in Brookfield Renewable Partners L.P. (NYSE:BEP)

Advisors Capital Management LLC purchased a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 116,064 shares of the utilities provider’s stock, valued at approximately $3,890,000.

Several other large investors have also made changes to their positions in BEP. JPMorgan Chase & Co. purchased a new stake in Brookfield Renewable Partners L.P. in the 2nd quarter worth about $109,000. Chicago Partners Investment Group LLC purchased a new stake in Brookfield Renewable Partners L.P. in the 2nd quarter worth about $259,000. Wells Fargo & Company MN raised its position in Brookfield Renewable Partners L.P. by 242.2% in the 2nd quarter. Wells Fargo & Company MN now owns 8,972 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 6,350 shares during the period. Advisory Services Network LLC purchased a new stake in Brookfield Renewable Partners L.P. in the 2nd quarter worth about $305,000. Finally, Jane Street Group LLC purchased a new stake in Brookfield Renewable Partners L.P. in the 1st quarter worth about $454,000. 58.38% of the stock is owned by hedge funds and other institutional investors.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded up $0.06 during trading hours on Friday, hitting $34.05. 60,500 shares of the stock were exchanged, compared to its average volume of 65,430. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.58 and a current ratio of 0.58. Brookfield Renewable Partners L.P. has a fifty-two week low of $26.61 and a fifty-two week high of $36.00.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.468 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This is an increase from Brookfield Renewable Partners L.P.’s previous quarterly dividend of $0.47. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.50%. Brookfield Renewable Partners L.P.’s dividend payout ratio (DPR) is currently -1,558.20%.

BEP has been the topic of a number of recent analyst reports. Barclays PLC set a $36.00 price objective on shares of Brookfield Renewable Partners L.P. and gave the stock a “hold” rating in a research report on Sunday, August 6th. GMP Securities reissued a “hold” rating and issued a $34.50 price objective on shares of Brookfield Renewable Partners L.P. in a research report on Friday, October 20th. Royal Bank of Canada increased their price objective on shares of Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 8th. BMO Capital Markets reissued a “hold” rating and issued a $35.00 price objective on shares of Brookfield Renewable Partners L.P. in a research report on Friday, October 20th. Finally, Raymond James Financial, Inc. reduced their target price on shares of Brookfield Renewable Partners L.P. to $42.00 and set a “market perform” rating on the stock in a research report on Thursday, August 17th. Twelve analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Brookfield Renewable Partners L.P. presently has an average rating of “Hold” and a consensus price target of $38.39.

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Brookfield Renewable Partners L.P. Company Profile

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

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

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