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

Sage Investment Counsel LLC purchased a new position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,425 shares of the utilities provider's stock, valued at approximately $488,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in shares of Brookfield Renewable Partners by 23.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider's stock worth $192,605,000 after acquiring an additional 1,628,524 shares in the last quarter. Principal Financial Group Inc. lifted its stake 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 during the last quarter. Bank of Montreal Can lifted its stake in Brookfield Renewable Partners by 0.4% during the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider's stock worth $190,469,000 after purchasing an additional 26,189 shares during the last quarter. Cibc World Market Inc. boosted its holdings 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 purchasing an additional 116,593 shares during the period. Finally, CCLA Investment Management increased its stake in Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider's stock valued at $59,838,000 after purchasing an additional 49,553 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

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Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock traded up $0.54 during mid-day trading on Wednesday, hitting $22.29. 356,056 shares of the company's stock traded hands, compared to its average volume of 850,197. 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 L.P. has a one year low of $19.92 and a one year high of $29.56. The firm has a 50 day moving average price of $22.16 and a 200 day moving average price of $24.41. The company has a market cap of $6.36 billion, a PE ratio of -25.04 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share 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 company earned $0.01 EPS. On average, equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.69%. This is an increase 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 payout ratio is -167.42%.

Wall Street Analysts Forecast Growth

BEP has been the topic of a number of recent research reports. Scotiabank raised their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. National Bankshares dropped their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Finally, CIBC reduced their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. One research 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 a consensus rating of "Moderate Buy" and an average target price of $30.50.

About Brookfield Renewable Partners

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.