Evanson Asset Management LLC Acquires 4,375 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Evanson Asset Management LLC grew its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 29.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,123 shares of the utilities provider’s stock after acquiring an additional 4,375 shares during the quarter. Evanson Asset Management LLC’s holdings in Brookfield Renewable Partners were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BEP. FIL Ltd boosted its position in shares of Brookfield Renewable Partners by 37.1% in the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after acquiring an additional 3,474,522 shares during the period. CIBC Asset Management Inc boosted its position in shares of Brookfield Renewable Partners by 63.2% in the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock valued at $162,917,000 after acquiring an additional 2,394,853 shares during the period. CCLA Investment Management boosted its position in shares of Brookfield Renewable Partners by 37.2% in the fourth quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock valued at $65,558,000 after acquiring an additional 676,754 shares during the period. Invesco Ltd. lifted its position in Brookfield Renewable Partners by 36.0% during the third quarter. Invesco Ltd. now owns 1,851,866 shares of the utilities provider’s stock worth $40,260,000 after purchasing an additional 489,704 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Brookfield Renewable Partners by 6.4% during the fourth quarter. Principal Financial Group Inc. now owns 6,905,963 shares of the utilities provider’s stock worth $181,489,000 after purchasing an additional 415,667 shares during the period. Institutional investors own 63.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BEP has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Raymond James cut their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research report on Thursday, April 25th. National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. TD Securities upped their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Scotiabank increased their target price on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.17.

Brookfield Renewable Partners Stock Up 1.8 %

BEP stock opened at $26.07 on Wednesday. The firm has a 50-day moving average price of $25.61 and a 200-day moving average price of $24.81. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $30.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $7.43 billion, a P/E ratio of -56.67 and a beta of 0.94.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.24). Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The firm had revenue of $875.00 million during the quarter, compared to analyst estimates of $828.39 million. As a group, equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.49 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio is currently -308.69%.

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.