Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,152 shares of the utilities provider’s stock after purchasing an additional 724 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Brookfield Renewable Partners were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BEP. CIBC Asset Management Inc raised its stake in shares of Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after acquiring an additional 1,628,524 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after buying an additional 246,163 shares during the period. Bank of Montreal Can raised its holdings in Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after acquiring an additional 26,189 shares in the last quarter. Cibc World Market Inc. lifted its stake in Brookfield Renewable Partners by 4.4% in the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after acquiring an additional 116,593 shares during the last quarter. Finally, CCLA Investment Management grew its holdings in Brookfield Renewable Partners by 1.9% during the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock worth $59,838,000 after acquiring an additional 49,553 shares in the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Up 0.5 %

Shares of BEP stock opened at $23.77 on Friday. 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 current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $22.15 and its two-hundred day moving average is $24.30. The company has a market capitalization of $6.77 billion, a P/E ratio of -26.71 and a beta of 1.02.

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

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.373 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a yield of 6.28%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -167.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BEP shares. Wells Fargo & Company cut their target price on 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. CIBC lowered their target price on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price objective on shares of 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. Finally, National Bankshares cut their target price on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

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.