Sequoia Financial Advisors LLC Boosts Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Sequoia Financial Advisors LLC lifted its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,631 shares of the utilities provider’s stock after purchasing an additional 26,950 shares during the period. Sequoia Financial Advisors LLC owned 0.09% of Brookfield Renewable Partners worth $5,621,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after buying an additional 1,628,524 shares in the last quarter. Principal Financial Group Inc. raised its stake in Brookfield Renewable Partners by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after buying an additional 246,163 shares in the last quarter. Bank of Montreal Can raised its stake in Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after buying an additional 26,189 shares in the last quarter. Cibc World Market Inc. raised its stake in Brookfield Renewable Partners by 4.4% in the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after buying an additional 116,593 shares in the last quarter. Finally, CCLA Investment Management raised its stake 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. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Down 1.7 %

NYSE:BEP opened at $22.80 on Friday. The company’s 50 day moving average price is $22.13 and its 200-day moving average price is $24.36. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of -25.62 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter in the previous year, the business earned $0.01 EPS. On average, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a dividend of $0.373 per share. 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. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.54%. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.

Wall Street Analyst Weigh In

BEP has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on shares of 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. JPMorgan Chase & Co. decreased their target price on shares of 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. Finally, Scotiabank raised their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

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.