11,640 Shares in Brookfield Renewable Partners L.P. (NYSE:BEP) Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,640 shares of the utilities provider’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BEP. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Renewable Partners during the third quarter worth approximately $28,000. Promus Capital LLC purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth $37,000. Jones Financial Companies Lllp raised its position in shares of Brookfield Renewable Partners by 26.2% in the fourth 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 during the last quarter. Allworth Financial LP purchased a new position in shares of Brookfield Renewable Partners in the fourth quarter worth about $68,000. Finally, Steward Partners Investment Advisory LLC boosted its position in Brookfield Renewable Partners by 81.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock worth $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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BEP. National Bankshares decreased their target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Scotiabank boosted their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company lowered their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Trading Down 0.5 %

NYSE BEP opened at $22.14 on Tuesday. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The stock has a market capitalization of $6.30 billion, a P/E ratio of -24.88 and a beta of 1.02. The firm’s 50-day moving average is $22.35 and its two-hundred day moving average is $24.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data 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 quarter in the previous year, the company posted $0.01 earnings per share. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 6.74%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s payout ratio is currently -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.