Tyche Wealth Partners LLC Increases Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Tyche Wealth Partners LLC boosted its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 40.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,825 shares of the utilities provider’s stock after purchasing an additional 4,000 shares during the period. Tyche Wealth Partners LLC’s holdings in Brookfield Renewable Partners were worth $315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BEP. Intact Investment Management Inc. purchased a new position in Brookfield Renewable Partners in the third quarter worth about $42,331,000. Principal Financial Group Inc. boosted its position in Brookfield Renewable Partners by 4.5% in the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after purchasing an additional 330,648 shares during the last quarter. Mirabella Financial Services LLP boosted its position in Brookfield Renewable Partners by 145.2% in the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after purchasing an additional 276,374 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Brookfield Renewable Partners in the third quarter worth about $6,191,000. Finally, Toronto Dominion Bank boosted its position in Brookfield Renewable Partners by 11.1% in the third quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock worth $48,905,000 after purchasing an additional 173,882 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Up 1.6 %

Shares of BEP opened at $22.64 on Friday. The business’s 50 day moving average is $22.77 and its 200 day moving average is $24.65. The company has a market capitalization of $6.46 billion, a PE ratio of -25.44 and a beta of 0.95. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business posted $0.01 EPS. Research analysts expect that Brookfield Renewable Partners L.P. will post -0.76 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a $0.373 dividend. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 6.59%. Brookfield Renewable Partners’s payout ratio is presently -159.55%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BEP. StockNews.com raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday. CIBC lowered their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research report on Monday. Wells Fargo & Company lowered their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $30.60.

Brookfield Renewable Partners 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.