AGF Management Ltd. Acquires 1,540,777 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

AGF Management Ltd. lifted its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3,234.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,588,410 shares of the utilities provider’s stock after acquiring an additional 1,540,777 shares during the period. AGF Management Ltd. owned 0.56% of Brookfield Renewable Partners worth $36,681,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Brookfield Renewable Partners in the fourth quarter worth about $2,623,000. Promus Capital LLC purchased a new stake in shares of Brookfield Renewable Partners in the fourth quarter worth about $37,000. Steward Partners Investment Advisory LLC lifted its position 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 in the last quarter. NINE MASTS CAPITAL Ltd raised its position in Brookfield Renewable Partners by 240.0% during the fourth quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider’s stock valued at $3,135,000 after purchasing an additional 97,105 shares during the period. Finally, Jones Financial Companies Lllp raised its position in Brookfield Renewable Partners by 26.2% during 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. Institutional investors own 63.16% of the company’s stock.

Analyst Upgrades and Downgrades

BEP has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective 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. Scotiabank upped their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Stock Down 1.1 %

BEP stock opened at $22.85 on Wednesday. The firm has a market cap of $6.52 billion, a PE ratio of -25.67 and a beta of 1.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56. The firm’s 50 day moving average price is $22.13 and its 200-day moving average price is $24.38.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued 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 net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter in the prior year, the company earned $0.01 earnings per share. On average, equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS 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. Shareholders 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 yield of 6.53%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -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.