Summit Trail Advisors LLC Buys New Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Summit Trail Advisors LLC purchased a new position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,830 shares of the utilities provider's stock, valued at approximately $315,000.

A number of other hedge funds have also recently made changes to their positions in BEP. Stifel Financial Corp boosted its position in Brookfield Renewable Partners by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider's stock valued at $880,000 after buying an additional 403 shares during the period. GAMMA Investing LLC raised its stake in shares of Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 442 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Brookfield Renewable Partners by 1.6% during the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider's stock valued at $1,321,000 after acquiring an additional 749 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider's stock worth $394,000 after purchasing an additional 945 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Brookfield Renewable Partners during the 3rd quarter worth $28,000. 63.16% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BEP shares. JPMorgan Chase & Co. dropped their price target on 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. CIBC lowered their price objective on shares of 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. Royal Bank of Canada restated an "outperform" rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of "Buy" and a consensus price target of $30.50.

Brookfield Renewable Partners Stock Down 0.1 %

Shares of Brookfield Renewable Partners stock traded down $0.03 on Friday, reaching $22.37. The stock had a trading volume of 764,471 shares, compared to its average volume of 1,104,736. The stock has a market capitalization of $6.38 billion, a P/E ratio of -25.14 and a beta of 0.95. Brookfield Renewable Partners L.P. has a 1 year low of $19.92 and a 1 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. The company has a 50 day moving average price of $22.34 and a 200 day moving average price of $24.56.

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) EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $0.01 earnings per share. As a group, equities research analysts forecast that Brookfield Renewable Partners L.P. will post -0.99 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.373 per share. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a yield of 6.67%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners's dividend payout ratio is currently -167.42%.

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.