Apollon Wealth Management LLC Boosts Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Apollon Wealth Management LLC boosted its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,999 shares of the utilities provider’s stock after buying an additional 945 shares during the quarter. Apollon Wealth Management LLC’s holdings in Brookfield Renewable Partners were worth $394,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Brookfield Renewable Partners by 86.5% in 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. Clear Point Advisors Inc. purchased a new position in Brookfield Renewable Partners in the first quarter valued at $49,000. Evermay Wealth Management LLC purchased a new position in Brookfield Renewable Partners in the first quarter valued at $49,000. Creative Planning purchased a new position in Brookfield Renewable Partners in the third quarter valued at $206,000. Finally, Aspiriant LLC purchased a new position in Brookfield Renewable Partners in the third quarter valued at $241,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on BEP. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC upped their price objective 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. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $25.18 on Monday. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The company has a quick ratio of 0.52, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $26.60 and a two-hundred day moving average of $25.95.

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

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.64%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

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.