Northwest & Ethical Investments L.P. Grows Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Northwest & Ethical Investments L.P. lifted its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,025 shares of the utilities provider’s stock after buying an additional 1,722 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Brookfield Renewable Partners were worth $1,867,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $28,000. Promus Capital LLC purchased a new position in shares of Brookfield Renewable Partners during the 4th quarter valued at $37,000. Jones Financial Companies Lllp lifted its stake in shares of Brookfield Renewable Partners by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after buying an additional 537 shares in the last quarter. Allworth Financial LP purchased a new position in shares of Brookfield Renewable Partners during the 4th quarter valued at $68,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in Brookfield Renewable Partners by 81.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 1,391 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. National Bankshares reduced their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Scotiabank lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $23.77 on Friday. The company’s 50-day moving average price is $22.15 and its 200-day moving average price is $24.30. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $29.56. 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 company has a market cap of $6.77 billion, a PE ratio of -26.71 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the prior year, the firm posted $0.01 EPS. On average, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.28%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.

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.