Sage Investment Counsel LLC Invests $488,000 in Brookfield Renewable Partners L.P. (NYSE:BEP)

Sage Investment Counsel LLC bought a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the fourth quarter, Holdings Channel.com reports. The firm bought 21,425 shares of the utilities provider’s stock, valued at approximately $488,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Stifel Financial Corp lifted its holdings in shares of Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after acquiring an additional 403 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Brookfield Renewable Partners by 1.6% in the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock worth $1,321,000 after acquiring an additional 749 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Brookfield Renewable Partners by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after acquiring an additional 945 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Brookfield Renewable Partners in the third quarter valued at approximately $28,000. Finally, Epiq Partners LLC increased its stake in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. Epiq Partners LLC now owns 105,228 shares of the utilities provider’s stock valued at $2,398,000 after buying an additional 1,500 shares during the period. Institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

BEP has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Scotiabank upped their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Royal Bank of Canada reaffirmed 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 lowered their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, CIBC lowered their price objective on 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. One 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $22.51 on Friday. The company has a market capitalization of $6.42 billion, a PE ratio of -25.29 and a beta of 0.95. The company has a 50 day simple moving average of $22.24 and a two-hundred day simple moving average of $24.47. 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 L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly 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 quarter in the previous year, the business posted $0.01 EPS. Research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 6.63%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is presently -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.