Raymond James Financial Services Advisors Inc. Has $1.16 Million Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Raymond James Financial Services Advisors Inc. decreased its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,040 shares of the utilities provider’s stock after selling 996 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Brookfield Renewable Partners were worth $1,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BEP. Raymond James & Associates raised its stake in Brookfield Renewable Partners by 1.3% in the 1st quarter. Raymond James & Associates now owns 36,752 shares of the utilities provider’s stock worth $1,509,000 after purchasing an additional 461 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Brookfield Renewable Partners by 26.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,767 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 1,838 shares in the last quarter. Mackenzie Financial Corp raised its stake in Brookfield Renewable Partners by 402.2% in the 1st quarter. Mackenzie Financial Corp now owns 123,848 shares of the utilities provider’s stock worth $5,091,000 after purchasing an additional 99,188 shares in the last quarter. Parkwood LLC acquired a new stake in Brookfield Renewable Partners in the 1st quarter worth about $1,366,000. Finally, Northern Trust Corp raised its stake in Brookfield Renewable Partners by 1.8% in the 1st quarter. Northern Trust Corp now owns 82,828 shares of the utilities provider’s stock worth $3,401,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 3.3 %

Shares of Brookfield Renewable Partners stock opened at $21.04 on Friday. The firm has a market capitalization of $6.03 billion, a PE ratio of -65.75 and a beta of 0.80. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $23.09 and its 200 day moving average is $23.90. Brookfield Renewable Partners L.P. has a 1 year low of $19.97 and a 1 year high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted ($0.16) EPS. The firm’s revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post -0.01 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 6.75%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, February 28th. Brookfield Renewable Partners’s payout ratio is presently -421.88%.

Analyst Upgrades and Downgrades

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

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.