SFE Investment Counsel Increases Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

SFE Investment Counsel lifted its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,281 shares of the utilities provider’s stock after buying an additional 1,000 shares during the quarter. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of BEP. Raymond James & Associates increased its position in shares of Brookfield Renewable Partners by 1.3% during the first quarter. Raymond James & Associates now owns 36,752 shares of the utilities provider’s stock valued at $1,509,000 after buying an additional 461 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Brookfield Renewable Partners by 1.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,130 shares of the utilities provider’s stock valued at $1,853,000 after buying an additional 453 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Brookfield Renewable Partners by 26.5% during the first quarter. PNC Financial Services Group Inc. now owns 8,767 shares of the utilities provider’s stock valued at $360,000 after buying an additional 1,838 shares during the period. Mackenzie Financial Corp increased its position in shares of Brookfield Renewable Partners by 402.2% during the first quarter. Mackenzie Financial Corp now owns 123,848 shares of the utilities provider’s stock valued at $5,091,000 after buying an additional 99,188 shares during the period. Finally, Parkwood LLC bought a new stake in Brookfield Renewable Partners during the first quarter worth about $1,366,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 1.3 %

Shares of NYSE:BEP traded up $0.27 during trading on Thursday, reaching $20.52. 508,436 shares of the stock traded hands, compared to its average volume of 465,349. The stock has a 50-day moving average of $22.82 and a two-hundred day moving average of $23.85. Brookfield Renewable Partners L.P. has a 52-week low of $19.92 and a 52-week high of $32.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $5.87 billion, a P/E ratio of -63.88 and a beta of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Brookfield Renewable Partners L.P. will post -0.01 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were issued a $0.355 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.42 annualized dividend and a yield of 6.92%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -421.88%.

Analyst Ratings Changes

A number of brokerages have weighed in on BEP. JPMorgan Chase & Co. restated a “neutral” rating and issued a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Finally, National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.60.

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.