Baystate Wealth Management LLC Buys Shares of 1,000 Brookfield Renewable Partners L.P. (NYSE:BEP)

Baystate Wealth Management LLC acquired a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,000 shares of the utilities provider’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Brookfield Renewable Partners by 0.9% in the third quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock worth $288,107,000 after buying an additional 117,246 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Brookfield Renewable Partners by 8.7% in the fourth quarter. 1832 Asset Management L.P. now owns 7,954,595 shares of the utilities provider’s stock worth $201,569,000 after buying an additional 634,671 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 0.9% in the third quarter. Principal Financial Group Inc. now owns 6,490,296 shares of the utilities provider’s stock worth $141,099,000 after buying an additional 57,177 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Brookfield Renewable Partners by 1.5% in the third quarter. CIBC Asset Management Inc now owns 3,786,846 shares of the utilities provider’s stock worth $82,528,000 after buying an additional 56,651 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Brookfield Renewable Partners by 3.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,536,554 shares of the utilities provider’s stock valued at $88,272,000 after purchasing an additional 94,102 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 3.3 %

BEP opened at $21.04 on Monday. The firm’s 50-day simple moving average is $23.09 and its 200-day simple moving average is $23.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. Brookfield Renewable Partners L.P. has a twelve month low of $19.97 and a twelve month high of $32.76. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of -65.75 and a beta of 0.80.

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

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, February 28th. 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. Brookfield Renewable Partners’s dividend payout ratio is currently -421.88%.

Analysts Set New Price Targets

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