Brookfield Renewable Partners L.P. (NYSE:BEP) Position Trimmed by Raymond James & Associates

Posted by on Nov 4th, 2023

Raymond James & Associates trimmed its stake in Brookfield Renewable Partners L.P. (NYSE:BEP – Free Report) (TSE:BEP) by 11.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,701 shares of the utilities provider’s stock after selling 4,615 shares during the quarter. Raymond James & Associates’ holdings in Brookfield Renewable Partners were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BEP. Financial Freedom LLC purchased a new stake in Brookfield Renewable Partners in the 4th quarter worth approximately $28,000. Clear Street Markets LLC purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth $34,000. MV Capital Management Inc. grew its stake in Brookfield Renewable Partners by 168.0% in the first quarter. MV Capital Management Inc. now owns 1,608 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 1,008 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Brookfield Renewable Partners by 363.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,275 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Brookfield Renewable Partners by 69.4% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,155 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 883 shares in the last quarter. 60.36% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 1.2 %

Shares of BEP stock opened at $23.06 on Friday. Brookfield Renewable Partners L.P. has a 12 month low of $19.97 and a 12 month high of $32.76. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. The firm has a market cap of $6.65 billion, a PE ratio of -38.45 and a beta of 0.82. The stock has a 50 day moving average of $23.44 and a 200-day moving average of $27.51.

Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last released its earnings results on Friday, August 4th. The utilities provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.18). The company had revenue of $719.00 million for the quarter, compared to analyst estimates of $798.25 million. Brookfield Renewable Partners had a net margin of 6.43% and a return on equity of 1.24%. On average, equities analysts predict that Brookfield Renewable Partners L.P. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on BEP shares. National Bankshares lowered their price target on Brookfield Renewable Partners from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, October 13th. Raymond James upgraded shares of Brookfield Renewable Partners from an “outperform” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a report on Monday, September 25th. Mizuho reduced their price objective on shares of Brookfield Renewable Partners from $32.00 to $27.00 in a research note on Wednesday, August 9th. TD Securities lowered their target price on shares of Brookfield Renewable Partners from $38.00 to $32.00 and set an “action list buy” rating on the stock in a research report on Wednesday, October 18th. Finally, Scotiabank reduced their price target on Brookfield Renewable Partners from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average target price of $32.63.

Get Our Latest Stock Report on Brookfield Renewable Partners

Brookfield Renewable Partners Company Profile

(Free Report)

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

Further Reading

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

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