Raymond James Financial Inc. Invests $2.62 Million in Brookfield Renewable Partners L.P. (NYSE:BEP)

Raymond James Financial Inc. bought a new stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 115,096 shares of the utilities provider's stock, valued at approximately $2,623,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at approximately $28,000. Promus Capital LLC acquired a new position in Brookfield Renewable Partners during the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp raised its position in shares of Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 537 shares during the period. Allworth Financial LP acquired a new stake in shares of Brookfield Renewable Partners in the fourth quarter worth $68,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Brookfield Renewable Partners by 81.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock worth $71,000 after buying an additional 1,391 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock traded down $0.11 on Monday, hitting $22.14. The company's stock had a trading volume of 680,161 shares, compared to its average volume of 563,084. The company has a fifty day moving average price of $22.32 and a 200-day moving average price of $24.23. The firm has a market cap of $6.30 billion, a P/E ratio of -24.88 and a beta of 1.02. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

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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) 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 period in the previous year, the company earned $0.01 EPS. On average, equities analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.373 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Renewable Partners's previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.74%. Brookfield Renewable Partners's dividend payout ratio is presently -167.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BEP. National Bankshares dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. CIBC decreased their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

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.