Creative Planning Buys Shares of 4,361 Brookfield Renewable Partners LP (NYSE:BEP)

Creative Planning bought a new stake in Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) during the 4th quarter, HoldingsChannel reports. The fund bought 4,361 shares of the utilities provider’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently added to or reduced their stakes in BEP. Usca Ria LLC bought a new position in Brookfield Renewable Partners in the 3rd quarter valued at about $30,000. Coastal Investment Advisors Inc. bought a new position in Brookfield Renewable Partners in the 3rd quarter valued at about $32,000. Huntington National Bank increased its holdings in Brookfield Renewable Partners by 128.3% in the 3rd quarter. Huntington National Bank now owns 1,486 shares of the utilities provider’s stock valued at $60,000 after buying an additional 835 shares during the period. Winthrop Partners WNY LLC bought a new position in Brookfield Renewable Partners in the 3rd quarter valued at about $203,000. Finally, Chicago Partners Investment Group LLC bought a new position in Brookfield Renewable Partners in the 4th quarter valued at about $206,000. 52.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Brookfield Renewable Partners stock opened at $54.49 on Friday. The firm has a market capitalization of $9.75 billion, a PE ratio of -286.79 and a beta of 0.53. The company has a current ratio of 0.27, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $48.14 and its 200 day moving average is $42.90. Brookfield Renewable Partners LP has a 1 year low of $29.17 and a 1 year high of $54.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.29). The company had revenue of $726.00 million for the quarter. Brookfield Renewable Partners had a net margin of 5.74% and a return on equity of 1.04%.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.543 per share. This represents a $2.17 dividend on an annualized basis and a yield of 3.99%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, February 27th. Brookfield Renewable Partners’s payout ratio is presently -1,084.21%.

Several equities analysts have commented on BEP shares. Royal Bank of Canada raised their target price on shares of Brookfield Renewable Partners from $48.00 to $54.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Raymond James reaffirmed a “market perform” rating and set a $48.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 10th. TD Securities lifted their price target on shares of Brookfield Renewable Partners from $47.00 to $52.00 and gave the company a “hold” rating in a report on Friday, February 7th. Wells Fargo & Co lifted their price target on shares of Brookfield Renewable Partners from $51.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Credit Suisse Group lowered shares of Brookfield Renewable Partners from a “neutral” rating to an “underperform” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.56.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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