Raymond James Financial Inc. Takes Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Raymond James Financial Inc. bought a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 115,096 shares of the utilities provider’s stock, valued at approximately $2,623,000.

A number of other institutional investors have also recently bought and sold shares of the business. CIBC Asset Management Inc grew its stake in Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after buying an additional 1,628,524 shares during the last quarter. Principal Financial Group Inc. grew its position in Brookfield Renewable Partners by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after acquiring an additional 246,163 shares during the last quarter. Cibc World Market Inc. increased its holdings in Brookfield Renewable Partners by 4.4% during the 4th quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock valued at $62,647,000 after purchasing an additional 116,593 shares in the last quarter. CCLA Investment Management raised its position in Brookfield Renewable Partners by 1.9% in the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after purchasing an additional 49,553 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in Brookfield Renewable Partners by 11.1% in the third quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock worth $48,905,000 after purchasing an additional 173,882 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. National Bankshares dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Scotiabank upped their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, CIBC lowered their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Brookfield Renewable Partners Stock Down 0.5 %

NYSE:BEP opened at $22.30 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The stock’s fifty day simple moving average is $22.32 and its 200-day simple moving average is $24.24. The firm has a market capitalization of $6.35 billion, a P/E ratio of -25.05 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter in the previous year, the company earned $0.01 EPS. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.373 per share. The ex-dividend date is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 6.69%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s payout ratio is currently -167.42%.

About Brookfield Renewable Partners

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.