Guardian Partners Inc. Takes $1.50 Million Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Guardian Partners Inc. acquired a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 66,459 shares of the utilities provider's stock, valued at approximately $1,504,000.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in 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 purchasing an additional 1,628,524 shares in the last quarter. AGF Management Ltd. lifted its stake in shares of Brookfield Renewable Partners by 3,234.7% in the fourth quarter. AGF Management Ltd. now owns 1,588,410 shares of the utilities provider's stock worth $36,681,000 after buying an additional 1,540,777 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider's stock worth $214,328,000 after acquiring an additional 330,648 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Brookfield Renewable Partners by 28.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,927 shares of the utilities provider's stock valued at $33,687,000 after acquiring an additional 324,653 shares in the last quarter. Finally, Mirabella Financial Services LLP boosted its stake in Brookfield Renewable Partners by 145.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider's stock valued at $13,153,000 after purchasing an additional 276,374 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

BEP has been the subject of several recent analyst reports. Scotiabank boosted their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Wells Fargo & Company lowered 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 research note on Monday, February 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Finally, CIBC cut their target price on shares of 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 equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Brookfield Renewable Partners Price Performance

NYSE:BEP traded down $0.19 on Tuesday, reaching $23.38. 345,953 shares of the company's stock traded hands, compared to its average volume of 555,157. The firm has a market cap of $6.66 billion, a PE ratio of -26.27 and a beta of 1.02. 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 50-day simple moving average of $22.18 and a 200-day simple moving average of $24.28. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the prior year, the company earned $0.01 EPS. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.373 per share. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 6.38%. Brookfield Renewable Partners's dividend payout ratio is presently -167.42%.

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.