WealthTrust Axiom LLC Lowers Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

WealthTrust Axiom LLC decreased its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,940 shares of the utilities provider’s stock after selling 1,500 shares during the quarter. WealthTrust Axiom LLC’s holdings in Brookfield Renewable Partners were worth $471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Baystate Wealth Management LLC purchased a new position in Brookfield Renewable Partners during the fourth quarter worth approximately $26,000. Stratos Wealth Partners LTD. acquired a new stake in Brookfield Renewable Partners during the third quarter worth $244,000. Clearstead Advisors LLC increased its stake in Brookfield Renewable Partners by 8.5% during the third quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider’s stock worth $269,000 after acquiring an additional 967 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in Brookfield Renewable Partners during the third quarter worth $282,000. Finally, Alpine Global Management LLC acquired a new stake in Brookfield Renewable Partners during the third quarter worth $282,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 1.8 %

Shares of BEP stock opened at $20.99 on Wednesday. Brookfield Renewable Partners L.P. has a 52-week low of $19.92 and a 52-week high of $32.76. The stock’s 50-day moving average price is $22.36 and its 200 day moving average price is $23.86. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted ($0.16) EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts predict that Brookfield Renewable Partners L.P. will post -0.01 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were issued a $0.355 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, February 28th. This represents a $1.42 annualized dividend and a yield of 6.77%. Brookfield Renewable Partners’s payout ratio is -421.88%.

Analysts Set New Price Targets

BEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. National Bankshares raised their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Finally, Raymond James cut their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Brookfield Renewable Partners Company 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.