Edgemoor Investment Advisors Inc. Has $1.52 Million Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Edgemoor Investment Advisors Inc. decreased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,464 shares of the utilities provider’s stock after selling 800 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Brookfield Renewable Partners were worth $1,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BEP. Triasima Portfolio Management inc. bought a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at approximately $16,936,000. SFE Investment Counsel grew its stake in Brookfield Renewable Partners by 3.1% in the 2nd quarter. SFE Investment Counsel now owns 51,927 shares of the utilities provider’s stock valued at $1,286,000 after buying an additional 1,580 shares during the last quarter. Private Advisor Group LLC raised its holdings in Brookfield Renewable Partners by 55.8% in the 2nd quarter. Private Advisor Group LLC now owns 22,016 shares of the utilities provider’s stock worth $545,000 after acquiring an additional 7,886 shares during the period. TD Asset Management Inc lifted its position in Brookfield Renewable Partners by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after acquiring an additional 67,777 shares during the last quarter. Finally, Fiera Capital Corp boosted its holdings in Brookfield Renewable Partners by 11.2% during the second quarter. Fiera Capital Corp now owns 42,016 shares of the utilities provider’s stock valued at $1,040,000 after acquiring an additional 4,247 shares during the period. Institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

BEP has been the topic of a number of recent analyst reports. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Scotiabank increased their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 12th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. National Bankshares increased their price target 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, TD Securities boosted their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.82.

Brookfield Renewable Partners Trading Down 0.7 %

NYSE BEP traded down $0.18 during trading on Monday, reaching $24.12. 26,251 shares of the company traded hands, compared to its average volume of 478,901. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $28.81. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock’s 50 day moving average price is $24.70 and its two-hundred day moving average price is $24.47.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm earned ($0.10) earnings per share. Brookfield Renewable Partners’s quarterly revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable Partners’s dividend payout ratio is -308.69%.

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.