SFE Investment Counsel Sells 2,830 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

SFE Investment Counsel cut its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,878 shares of the utilities provider’s stock after selling 2,830 shares during the quarter. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,160,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Renewable Partners during the third quarter valued at approximately $28,000. Waverton Investment Management Ltd purchased a new stake in shares of Brookfield Renewable Partners during the third quarter valued at approximately $178,000. Barclays PLC increased its position in shares of Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 2,036 shares in the last quarter. Finally, Creative Planning purchased a new position in Brookfield Renewable Partners in the 3rd quarter worth approximately $206,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Up 0.8 %

Shares of NYSE:BEP opened at $22.22 on Thursday. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average price is $22.48 and its 200-day moving average price is $24.59. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping 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 period in the prior year, the firm earned $0.01 EPS. Research analysts predict that Brookfield Renewable Partners L.P. will post -0.99 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.71%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s payout ratio is currently -159.55%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. CIBC reduced their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. 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. National Bankshares dropped their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.40.

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.