Principal Financial Group Inc. Grows Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Principal Financial Group Inc. lifted its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,605,679 shares of the utilities provider’s stock after purchasing an additional 330,648 shares during the quarter. Principal Financial Group Inc. owned 2.67% of Brookfield Renewable Partners worth $214,328,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised 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 worth $27,000 after acquiring an additional 442 shares in the last quarter. Clear Point Advisors Inc. purchased a new stake in Brookfield Renewable Partners in the 1st quarter worth approximately $49,000. Evermay Wealth Management LLC bought a new stake in Brookfield Renewable Partners in the first quarter valued at $49,000. Creative Planning purchased a new position in shares of Brookfield Renewable Partners during the third quarter valued at about $206,000. Finally, Aspiriant LLC purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $241,000. 63.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock opened at $26.18 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average price of $26.45 and a 200-day moving average price of $25.74. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56.

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.