SFE Investment Counsel Has $1.51 Million Stake in Brookfield Renewable Partners L.P. $BEP

SFE Investment Counsel grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 11.2% during the second quarter, HoldingsChannel reports. The firm owned 59,062 shares of the utilities provider’s stock after buying an additional 5,971 shares during the period. SFE Investment Counsel’s holdings in Brookfield Renewable Partners were worth $1,507,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bank of Nova Scotia Trust Co. lifted its holdings in Brookfield Renewable Partners by 0.5% in the first quarter. Bank of Nova Scotia Trust Co. now owns 149,221 shares of the utilities provider’s stock valued at $3,307,000 after buying an additional 726 shares during the period. Apollon Wealth Management LLC raised its position in shares of Brookfield Renewable Partners by 7.3% in the 2nd quarter. Apollon Wealth Management LLC now owns 16,202 shares of the utilities provider’s stock worth $413,000 after acquiring an additional 1,102 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Brookfield Renewable Partners by 5.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,373 shares of the utilities provider’s stock valued at $562,000 after purchasing an additional 1,221 shares during the period. Edgemoor Investment Advisors Inc. lifted its stake in shares of Brookfield Renewable Partners by 2.0% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 66,061 shares of the utilities provider’s stock valued at $1,464,000 after purchasing an additional 1,295 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at about $34,000. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $31.13 on Friday. The company has a market cap of $8.84 billion, a P/E ratio of -32.77 and a beta of 1.16. The company has a fifty day simple moving average of $27.32 and a 200 day simple moving average of $25.83. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $32.72.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.22. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. Sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a $0.373 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.49 annualized dividend and a yield of 4.8%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BEP. UBS Group reiterated a “buy” rating and issued a $38.00 target price (up from $29.00) on shares of Brookfield Renewable Partners in a report on Thursday, October 30th. BMO Capital Markets set a $36.00 price objective on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a research note on Wednesday, October 29th. CIBC set a $35.00 target price on shares of Brookfield Renewable Partners and gave the company an “outperformer” rating in a research report on Thursday. Mizuho set a $33.00 price target on shares of Brookfield Renewable Partners in a report on Friday. Finally, TD Securities lifted their price target on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

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.