SFE Investment Counsel Sells 2,830 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

SFE Investment Counsel lessened its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,878 shares of the utilities provider’s stock after selling 2,830 shares during the quarter. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BEP. GAMMA Investing LLC lifted its stake in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $28,000. Waverton Investment Management Ltd bought a new position in shares of Brookfield Renewable Partners in the third quarter worth approximately $178,000. Barclays PLC increased its stake in shares of Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after buying an additional 2,036 shares during the period. Finally, Creative Planning purchased a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $206,000. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Stock Performance

BEP opened at $22.22 on Thursday. 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 stock has a fifty day simple moving average of $22.48 and a two-hundred day simple moving average of $24.59. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56.

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 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 period in the prior year, the firm posted $0.01 EPS. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -0.99 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.71%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -159.55%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BEP. National Bankshares dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday. Scotiabank dropped their price objective on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. StockNews.com lowered Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut 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 report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners has an average rating of “Buy” and an average target price of $30.40.

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.