13,830 Shares in Brookfield Renewable Partners L.P. (NYSE:BEP) Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC bought a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 13,830 shares of the utilities provider’s stock, valued at approximately $315,000.

Several other large investors have also recently added to or reduced their stakes in BEP. Intact Investment Management Inc. bought a new stake in Brookfield Renewable Partners in the 3rd quarter valued at about $42,331,000. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 4.5% in the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after purchasing an additional 330,648 shares during the period. Mirabella Financial Services LLP raised its holdings in shares of Brookfield Renewable Partners by 145.2% during the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after buying an additional 276,374 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Brookfield Renewable Partners during the third quarter worth approximately $6,191,000. Finally, Toronto Dominion Bank grew its holdings in Brookfield Renewable Partners by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock worth $48,905,000 after buying an additional 173,882 shares in the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BEP. National Bankshares cut 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. Wells Fargo & Company reduced their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. CIBC reduced their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Buy” and a consensus target price of $30.40.

Brookfield Renewable Partners Trading Up 0.8 %

Shares of NYSE:BEP opened at $22.22 on Thursday. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of -24.97 and a beta of 0.95. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a 50 day moving average price of $22.48 and a 200 day moving average price of $24.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (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 previous year, the business posted $0.01 EPS. On average, research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.99 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 6.71%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s payout ratio is presently -159.55%.

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.