SFE Investment Counsel Buys 1,580 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

SFE Investment Counsel raised its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 51,927 shares of the utilities provider’s stock after purchasing an additional 1,580 shares during the quarter. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FIL Ltd raised its holdings in Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after buying an additional 3,474,522 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Brookfield Renewable Partners by 1.4% during the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock valued at $326,691,000 after acquiring an additional 173,402 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Renewable Partners by 0.9% during the second quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock valued at $180,203,000 after acquiring an additional 66,794 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Brookfield Renewable Partners by 0.6% during the second quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock worth $171,010,000 after purchasing an additional 37,836 shares during the period. Finally, CCLA Investment Management grew its stake in shares of Brookfield Renewable Partners by 1.4% in the first quarter. CCLA Investment Management now owns 2,530,685 shares of the utilities provider’s stock worth $58,733,000 after purchasing an additional 34,915 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. TD Securities raised their price target on Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. Scotiabank raised their target price on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, June 12th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.82.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $24.30 on Friday. The firm’s 50-day simple moving average is $24.70 and its two-hundred day simple 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. The stock has a market cap of $6.93 billion, a PE 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.

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

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.355 dividend. 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 dividend payout ratio is presently -308.70%.

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.