SOA Wealth Advisors LLC. Purchases New Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

SOA Wealth Advisors LLC. purchased a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) during the first quarter, HoldingsChannel.com reports. The firm purchased 26,325 shares of the utilities provider’s stock, valued at approximately $583,000.

A number of other institutional investors have also recently modified their holdings of BEP. Royal Bank of Canada boosted its position in Brookfield Renewable Partners by 1.3% during the fourth quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider’s stock worth $375,248,000 after purchasing an additional 211,467 shares in the last quarter. CIBC Asset Management Inc boosted its position in Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock worth $192,605,000 after purchasing an additional 1,628,524 shares in the last quarter. Principal Financial Group Inc. boosted its position in Brookfield Renewable Partners by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after purchasing an additional 246,163 shares in the last quarter. Bank of Montreal Can boosted its position in Brookfield Renewable Partners by 4.7% during the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock worth $160,585,000 after purchasing an additional 315,272 shares in the last quarter. Finally, Scotia Capital Inc. boosted its position in Brookfield Renewable Partners by 13.5% during the fourth quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider’s stock worth $61,433,000 after purchasing an additional 323,619 shares in the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BEP has been the topic of a number of research analyst reports. CIBC decreased their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a research report on Monday, May 5th. Barclays assumed coverage on Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 target price on the stock. Scotiabank boosted their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Company cut their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, National Bankshares cut their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $23.98 on Monday. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of -26.94 and a beta of 0.98. The business has a fifty day moving average of $22.74 and a 200-day moving average of $22.83. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The business had revenue of $907.00 million during the quarter, compared to analyst estimates of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. As a group, 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 announced 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 is Friday, May 30th. This represents a $1.49 annualized dividend and a yield of 6.22%. Brookfield Renewable Partners’s payout ratio is currently -147.52%.

Brookfield Renewable Partners 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.