Principal Financial Group Inc. Boosts Position in Brookfield Renewable Partners L.P. (BEP)

Principal Financial Group Inc. increased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,428,721 shares of the utilities provider’s stock after buying an additional 36,368 shares during the quarter. Principal Financial Group Inc. owned 0.82% of Brookfield Renewable Partners L.P. worth $81,411,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in shares of Brookfield Renewable Partners L.P. during the second quarter worth about $109,000. Chicago Partners Investment Group LLC bought a new position in shares of Brookfield Renewable Partners L.P. during the second quarter worth about $259,000. Wells Fargo & Company MN grew its holdings in shares of Brookfield Renewable Partners L.P. by 242.2% during the second quarter. Wells Fargo & Company MN now owns 8,972 shares of the utilities provider’s stock worth $287,000 after buying an additional 6,350 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Brookfield Renewable Partners L.P. during the second quarter worth about $305,000. Finally, DORCHESTER WEALTH MANAGEMENT Co grew its holdings in shares of Brookfield Renewable Partners L.P. by 8.2% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 19,230 shares of the utilities provider’s stock worth $644,000 after buying an additional 1,450 shares in the last quarter. Institutional investors and hedge funds own 57.94% of the company’s stock.

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Brookfield Renewable Partners L.P. from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. BMO Capital Markets reissued a “hold” rating and set a $35.00 price target on shares of Brookfield Renewable Partners L.P. in a research report on Friday, October 20th. Royal Bank Of Canada increased their price target on Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 8th. Raymond James Financial, Inc. reduced their price target on Brookfield Renewable Partners L.P. from $35.00 to $33.00 and set a “market perform” rating for the company in a research report on Tuesday, August 8th. Finally, National Bank Financial cut Brookfield Renewable Partners L.P. from an “outperform” rating to a “sector perform” rating and set a $35.00 price target for the company. in a research report on Tuesday, August 8th. Twelve equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Brookfield Renewable Partners L.P. has an average rating of “Hold” and an average target price of $38.39.

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Brookfield Renewable Partners L.P. (BEP) opened at $33.89 on Monday. Brookfield Renewable Partners L.P. has a 52-week low of $26.61 and a 52-week high of $36.00. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.74.

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 given a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.52%. This is a boost from Brookfield Renewable Partners L.P.’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Renewable Partners L.P.’s dividend payout ratio (DPR) is presently -1,558.20%.

Brookfield Renewable Partners L.P. 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.

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

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