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

Commonwealth Equity Services LLC grew its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,217 shares of the utilities provider’s stock after purchasing an additional 725 shares during the period. Commonwealth Equity Services LLC’s holdings in Brookfield Renewable Partners were worth $597,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CCLA Investment Management raised its stake 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 valued at $59,838,000 after buying an additional 49,553 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Brookfield Renewable Partners by 23.8% in 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. Abel Hall LLC acquired a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at approximately $456,000. Raymond James Financial Inc. bought a new position in Brookfield Renewable Partners during the fourth quarter worth $2,623,000. Finally, NINE MASTS CAPITAL Ltd boosted its holdings in Brookfield Renewable Partners by 240.0% in the fourth quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider’s stock worth $3,135,000 after purchasing an additional 97,105 shares during the period. Institutional investors own 63.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BEP shares. Scotiabank increased their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. National Bankshares dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. 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 note on Thursday, January 23rd. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Finally, CIBC cut their price target on 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 analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average target price of $30.18.

Brookfield Renewable Partners Stock Down 8.5 %

BEP opened at $20.54 on Friday. The stock’s 50 day moving average price is $22.45 and its 200 day moving average price is $24.11. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The stock has a market cap of $5.85 billion, a P/E ratio of -23.08 and a beta of 0.99. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating 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 last year, the business earned $0.01 EPS. As a group, research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a $0.373 dividend. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Renewable Partners’s dividend 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.