SFE Investment Counsel Has $1.51 Million Holdings in Brookfield Renewable Partners L.P. $BEP

SFE Investment Counsel increased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 11.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,062 shares of the utilities provider’s stock after purchasing an additional 5,971 shares during the quarter. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,507,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at approximately $34,000. Activest Wealth Management bought a new position in Brookfield Renewable Partners in the second quarter valued at approximately $50,000. Northwestern Mutual Wealth Management Co. raised its position in Brookfield Renewable Partners by 136.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,576 shares in the last quarter. Bangor Savings Bank bought a new stake in Brookfield Renewable Partners during the second quarter worth $153,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $222,000. 63.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group reissued a “buy” rating and set a $38.00 price target (up previously from $29.00) on shares of Brookfield Renewable Partners in a report on Thursday, October 30th. TD Securities boosted their target price on Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. BMO Capital Markets set a $36.00 price target on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, Mizuho set a $33.00 price objective on shares of Brookfield Renewable Partners in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Brookfield Renewable Partners Stock Up 0.4%

NYSE:BEP opened at $31.13 on Friday. Brookfield Renewable Partners L.P. has a one year low of $19.29 and a one year high of $32.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market cap of $8.84 billion, a PE ratio of -32.77 and a beta of 1.16. The firm’s 50 day simple moving average is $27.32 and its 200 day simple moving average is $25.83.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.22. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. On average, research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.26%.

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.