SFE Investment Counsel Purchases 1,781 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

SFE Investment Counsel grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,708 shares of the utilities provider’s stock after acquiring an additional 1,781 shares during the period. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its position in Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the period. Clearbridge Investments LLC boosted its stake in Brookfield Renewable Partners by 0.9% in the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock valued at $2,017,000 after acquiring an additional 768 shares during the last quarter. Tidal Investments LLC grew its holdings in Brookfield Renewable Partners by 2.5% during the 1st quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 894 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 17.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 900 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Brookfield Renewable Partners in the 1st quarter worth $31,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $27.21 on Tuesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The firm has a market capitalization of $7.75 billion, a PE ratio of -59.15 and a beta of 0.94. The firm has a fifty day simple moving average of $26.24 and a two-hundred day simple moving average of $25.51.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.41). Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned ($0.10) earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. Analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.355 per share. The ex-dividend date was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.22%. Brookfield Renewable Partners’s payout ratio is -308.70%.

Analysts Set New Price Targets

BEP has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC increased their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. National Bankshares upped their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $24.00 to $31.00 in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy 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 $31.78.

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.