Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Acquired by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,217 shares of the utilities provider’s stock after acquiring an additional 725 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Brookfield Renewable Partners were worth $597,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of Brookfield Renewable Partners by 23.8% during the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after acquiring an additional 1,628,524 shares during the last quarter. AGF Management Ltd. grew its holdings in Brookfield Renewable Partners by 3,234.7% in the fourth quarter. AGF Management Ltd. now owns 1,588,410 shares of the utilities provider’s stock valued at $36,681,000 after purchasing an additional 1,540,777 shares during the period. Principal Financial Group Inc. increased its position in Brookfield Renewable Partners by 4.5% during the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after purchasing an additional 330,648 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Brookfield Renewable Partners by 28.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,927 shares of the utilities provider’s stock worth $33,687,000 after purchasing an additional 324,653 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Brookfield Renewable Partners by 11.1% during 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 during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BEP. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. National Bankshares dropped their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, CIBC cut their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average price target of $30.18.

Brookfield Renewable Partners Trading Down 8.5 %

NYSE BEP opened at $20.54 on Friday. The stock has a market cap of $5.85 billion, a P/E ratio of -23.08 and a beta of 0.99. The company’s fifty day simple moving average is $22.45 and its 200-day simple moving average is $24.11. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56.

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

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date was Friday, February 28th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -167.42%.

Brookfield Renewable Partners Company 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.