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

SFE Investment Counsel boosted its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 51,927 shares of the utilities provider’s stock after buying an additional 1,580 shares during the period. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,286,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FIL Ltd raised its position in Brookfield Renewable Partners by 37.1% in the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after buying an additional 3,474,522 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Brookfield Renewable Partners by 63.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock valued at $162,917,000 after purchasing an additional 2,394,853 shares during the last quarter. CCLA Investment Management lifted its position in Brookfield Renewable Partners by 37.2% during the fourth quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock valued at $65,558,000 after purchasing an additional 676,754 shares during the period. Liontrust Investment Partners LLP purchased a new stake in Brookfield Renewable Partners in the second quarter worth approximately $14,862,000. Finally, Price T Rowe Associates Inc. MD grew its position in Brookfield Renewable Partners by 103.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after purchasing an additional 595,335 shares during the period. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Down 2.4 %

BEP opened at $24.30 on Friday. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of -52.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. The firm’s fifty day moving average is $24.70 and its 200 day moving average is $24.46. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the company earned ($0.10) EPS. On average, sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -0.87 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable Partners’s payout ratio is currently -308.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BEP shares. JPMorgan Chase & Co. increased their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. National Bankshares upped their price target on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Scotiabank raised their price objective on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, June 12th. Finally, TD Securities upped their target price on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.82.

Brookfield Renewable Partners Company 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.