SOA Wealth Advisors LLC. Invests $583,000 in Brookfield Renewable Partners L.P. (NYSE:BEP)

SOA Wealth Advisors LLC. bought a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,325 shares of the utilities provider’s stock, valued at approximately $583,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp increased its position in Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after buying an additional 537 shares during the period. Avantax Advisory Services Inc. increased its position in Brookfield Renewable Partners by 3.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider’s stock worth $550,000 after buying an additional 724 shares during the period. Commonwealth Equity Services LLC increased its position in Brookfield Renewable Partners by 2.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider’s stock worth $597,000 after buying an additional 725 shares during the period. Barclays PLC increased its position in Brookfield Renewable Partners by 13.5% during the fourth quarter. Barclays PLC now owns 7,998 shares of the utilities provider’s stock worth $183,000 after buying an additional 951 shares during the period. Finally, Captrust Financial Advisors increased its position in Brookfield Renewable Partners by 4.2% during the fourth quarter. Captrust Financial Advisors now owns 25,033 shares of the utilities provider’s stock worth $570,000 after buying an additional 1,012 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Up 0.5%

Shares of BEP stock opened at $23.98 on Monday. The business’s 50 day moving average is $22.74 and its two-hundred day moving average is $22.83. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a market capitalization of $6.81 billion, a P/E ratio of -26.94 and a beta of 0.98. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. The business had revenue of $907.00 million during the quarter, compared to analysts’ expectations of $1.73 billion. Equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.22%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -147.52%.

Analysts Set New Price Targets

Several research analysts have commented on BEP shares. Barclays started coverage on Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price target on the stock. Scotiabank lifted their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered their target price on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. CIBC lowered their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a research note on Monday, May 5th. Finally, National Bankshares lowered their target price on 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.13.

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.