Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Acquired by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC increased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 14.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 15,825 shares of the utilities provider’s stock after acquiring an additional 2,000 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Brookfield Renewable Partners were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BEP. Royal Bank of Canada raised its holdings 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. Bank of Montreal Can grew its position in shares of Brookfield Renewable Partners by 4.7% in the 4th quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock valued at $160,585,000 after buying an additional 315,272 shares during the last quarter. Scotia Capital Inc. raised its stake in Brookfield Renewable Partners by 13.5% during the 4th quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider’s stock worth $61,433,000 after acquiring an additional 323,619 shares in the last quarter. Bank of Nova Scotia lifted its position in Brookfield Renewable Partners by 31.8% in the fourth quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider’s stock valued at $53,263,000 after acquiring an additional 564,515 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Brookfield Renewable Partners by 102.4% in the fourth quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider’s stock valued at $48,023,000 after acquiring an additional 1,065,590 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BEP has been the topic of several research reports. National Bank Financial raised Brookfield Renewable Partners to a “strong-buy” rating in a report on Sunday, June 8th. CIBC dropped their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a research note on Monday, May 5th. Barclays started coverage on Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Brookfield Renewable Partners Stock Down 0.6%

Brookfield Renewable Partners stock opened at $25.40 on Thursday. The stock has a 50 day moving average of $23.90 and a two-hundred day moving average of $22.89. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $29.56. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of -25.15 and a beta of 0.98. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). The firm had revenue of $907.00 million during the quarter, compared to analysts’ expectations of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. As a group, research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.87%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -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.