Allworth Financial LP Makes New $68,000 Investment in Brookfield Renewable Partners L.P. (NYSE:BEP)

Allworth Financial LP acquired a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,000 shares of the utilities provider’s stock, valued at approximately $68,000.

A number of other institutional investors also recently bought and sold shares of BEP. Summit Trail Advisors LLC purchased a new position in shares of Brookfield Renewable Partners in the fourth quarter valued at about $315,000. Apollon Wealth Management LLC lifted its holdings in shares of Brookfield Renewable Partners by 7.6% in the fourth quarter. Apollon Wealth Management LLC now owns 15,066 shares of the utilities provider’s stock worth $343,000 after buying an additional 1,067 shares in the last quarter. Tyche Wealth Partners LLC grew its stake in Brookfield Renewable Partners by 40.7% during the fourth quarter. Tyche Wealth Partners LLC now owns 13,825 shares of the utilities provider’s stock valued at $315,000 after acquiring an additional 4,000 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Brookfield Renewable Partners by 27.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 23,000 shares of the utilities provider’s stock valued at $524,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Everett Harris & Co. CA boosted its holdings in shares of Brookfield Renewable Partners by 75.1% during the 4th quarter. Everett Harris & Co. CA now owns 30,300 shares of the utilities provider’s stock valued at $691,000 after purchasing an additional 13,000 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BEP. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. StockNews.com downgraded shares of Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. CIBC lowered their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Finally, Scotiabank boosted their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, eight have issued 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 “Buy” and a consensus price target of $30.50.

Brookfield Renewable Partners Stock Down 2.9 %

NYSE:BEP opened at $22.76 on Tuesday. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $29.56. The stock has a fifty day simple moving average of $22.24 and a 200-day simple moving average of $24.51. The company has a market cap of $6.49 billion, a price-to-earnings ratio of -25.57 and a beta of 0.95. 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 (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $0.01 earnings per share. Analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.56%. Brookfield Renewable Partners’s dividend payout ratio is presently -159.55%.

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.