Promus Capital LLC Purchases Shares of 1,634 Brookfield Renewable Partners L.P. (NYSE:BEP)

Promus Capital LLC acquired a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,634 shares of the utilities provider’s stock, valued at approximately $37,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BEP. CIBC Asset Management Inc increased its holdings in Brookfield Renewable Partners by 23.8% during 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 buying an additional 1,628,524 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Brookfield Renewable Partners by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after purchasing an additional 246,163 shares during the period. Bank of Montreal Can lifted its position in Brookfield Renewable Partners by 0.4% during 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 purchasing an additional 26,189 shares in the last quarter. Cibc World Market Inc. grew its holdings in Brookfield Renewable Partners by 4.4% during the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock valued at $62,647,000 after purchasing an additional 116,593 shares during the period. Finally, CCLA Investment Management increased its position in Brookfield Renewable Partners by 1.9% in the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock worth $59,838,000 after buying an additional 49,553 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BEP shares. JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of 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. Finally, 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, February 11th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Stock Down 1.7 %

Shares of BEP stock opened at $21.91 on Friday. The company’s fifty day simple moving average is $22.14 and its two-hundred day simple moving average is $24.40. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56. The stock has a market cap of $6.25 billion, a P/E ratio of -24.62 and a beta of 1.02. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company earned $0.01 EPS. Analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is currently -167.42%.

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.