Northwest & Ethical Investments L.P. Boosts Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Northwest & Ethical Investments L.P. lifted its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,025 shares of the utilities provider’s stock after purchasing an additional 1,722 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Brookfield Renewable Partners were worth $1,867,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CCLA Investment Management lifted its holdings in Brookfield Renewable Partners by 1.9% in the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock worth $59,838,000 after buying an additional 49,553 shares during the period. CIBC Asset Management Inc lifted its holdings in Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after buying an additional 1,628,524 shares during the period. Abel Hall LLC purchased a new stake in Brookfield Renewable Partners in the fourth quarter worth about $456,000. NINE MASTS CAPITAL Ltd lifted 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 buying an additional 97,105 shares during the period. Finally, Mirabella Financial Services LLP lifted its holdings in Brookfield Renewable Partners by 145.2% in the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after buying an additional 276,374 shares during the period. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BEP has been the subject of several research analyst reports. National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Scotiabank raised their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. CIBC decreased their target price on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their target price 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. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Brookfield Renewable Partners Trading Up 0.5 %

Shares of BEP stock opened at $23.77 on Friday. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. 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 is $22.15 and its 200 day moving average is $24.30. The stock has a market capitalization of $6.77 billion, a P/E ratio of -26.71 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) 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 previous year, the company earned $0.01 EPS. Research analysts expect 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

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.