LPL Financial LLC Raises Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

LPL Financial LLC grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 32.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,514 shares of the utilities provider’s stock after buying an additional 14,194 shares during the period. LPL Financial LLC’s holdings in Brookfield Renewable Partners were worth $1,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in Brookfield Renewable Partners by 23.8% during the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after acquiring an additional 1,628,524 shares during the period. Principal Financial Group Inc. lifted its stake in Brookfield Renewable Partners by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock valued at $178,943,000 after buying an additional 246,163 shares in the last quarter. Cibc World Market Inc. increased its position in shares of Brookfield Renewable Partners by 4.4% during the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after purchasing an additional 116,593 shares in the last quarter. CCLA Investment Management raised its holdings in Brookfield Renewable Partners by 1.9% in the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after acquiring an additional 49,553 shares during the last quarter. Finally, AGF Management Ltd. grew its holdings in shares of Brookfield Renewable Partners by 3,234.7% in the fourth quarter. AGF Management Ltd. now owns 1,588,410 shares of the utilities provider’s stock valued at $36,681,000 after purchasing an additional 1,540,777 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BEP shares. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Wells Fargo & Company cut their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. National Bankshares lowered their price target 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. Finally, Barclays initiated coverage on shares of Brookfield Renewable Partners in a report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.18.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $21.54 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $22.35 and its two-hundred day moving average is $23.63. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of -24.20 and a beta of 0.99. Brookfield Renewable Partners L.P. has a 52-week low of $19.29 and a 52-week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period last year, the company earned $0.01 earnings per share. Analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were issued a dividend of $0.373 per share. The ex-dividend date was Friday, February 28th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 6.93%. Brookfield Renewable Partners’s dividend payout ratio is -167.42%.

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.