Steward Partners Investment Advisory LLC Acquires 1,391 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Steward Partners Investment Advisory LLC increased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 81.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,099 shares of the utilities provider’s stock after buying an additional 1,391 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Brookfield Renewable Partners were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. CCLA Investment Management lifted its holdings in Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock worth $59,838,000 after acquiring an additional 49,553 shares during the period. CIBC Asset Management Inc lifted its holdings 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 acquiring an additional 1,628,524 shares during the period. Abel Hall LLC bought a new stake in Brookfield Renewable Partners during the fourth quarter worth $456,000. MAI Capital Management lifted its holdings in Brookfield Renewable Partners by 294.2% during the third quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock worth $2,443,000 after acquiring an additional 64,695 shares during the period. Finally, NINE MASTS CAPITAL Ltd lifted its holdings in Brookfield Renewable Partners by 240.0% during the fourth quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider’s stock worth $3,135,000 after acquiring an additional 97,105 shares during the period. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $22.86 on Tuesday. The stock has a market cap of $6.51 billion, a PE ratio of -25.69 and a beta of 1.02. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The stock has a fifty day moving average of $22.11 and a 200-day moving average of $24.32.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced 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 return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the previous year, the firm earned $0.01 earnings per share. Equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.53%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s payout ratio is presently -167.42%.

Analysts Set New Price Targets

A number of brokerages 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 for the company in a research report on Thursday, January 23rd. Scotiabank raised their target price on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, National Bankshares decreased their target price on 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. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

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.