AGF Management Ltd. Grows Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

AGF Management Ltd. raised its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3,234.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,588,410 shares of the utilities provider’s stock after purchasing an additional 1,540,777 shares during the period. AGF Management Ltd.’s holdings in Brookfield Renewable Partners were worth $36,681,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Stifel Financial Corp increased its stake in Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock valued at $880,000 after buying an additional 403 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Brookfield Renewable Partners by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 537 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Brookfield Renewable Partners by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after acquiring an additional 749 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after acquiring an additional 945 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth about $28,000. Institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BEP shares. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Scotiabank lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. National Bankshares cut their price target 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. Finally, CIBC cut their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $22.85 on Wednesday. The company has a market capitalization of $6.52 billion, a P/E ratio of -25.67 and a beta of 1.02. The business has a 50 day moving average of $22.13 and a 200-day moving average of $24.38. 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 L.P. has a 1 year low of $19.92 and a 1 year 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, beating 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 prior year, the firm posted $0.01 earnings per share. On average, equities research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.53%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.

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.