Global X Management Co. LLC raised its stake in shares of Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) by 6.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 346,011 shares of the utilities provider’s stock after buying an additional 20,901 shares during the quarter. Global X Management Co. LLC’s holdings in Brookfield Renewable Partners were worth $12,079,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in Brookfield Renewable Partners during the second quarter valued at $109,000. Hemenway Trust Co LLC purchased a new position in Brookfield Renewable Partners during the fourth quarter valued at $202,000. Cambridge Investment Research Advisors Inc. purchased a new position in Brookfield Renewable Partners during the third quarter valued at $213,000. Columbia Asset Management purchased a new position in Brookfield Renewable Partners during the fourth quarter valued at $270,000. Finally, Baldwin Investment Management LLC purchased a new position in Brookfield Renewable Partners during the third quarter valued at $296,000. Institutional investors and hedge funds own 54.76% of the company’s stock.

Brookfield Renewable Partners LP (NYSE BEP) opened at $32.10 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.58 and a current ratio of 0.58. Brookfield Renewable Partners LP has a one year low of $28.13 and a one year high of $36.00.

Brookfield Renewable Partners announced that its Board of Directors has approved a stock buyback program on Friday, December 22nd that permits the company to repurchase 9,000,000 shares. This repurchase authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, February 28th will be issued a $0.49 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.96 annualized dividend and a dividend yield of 6.11%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.47. Brookfield Renewable Partners’s payout ratio is presently -1,558.20%.

A number of brokerages have issued reports on BEP. BMO Capital Markets reiterated a “hold” rating and set a $35.00 price objective on shares of Brookfield Renewable Partners in a research note on Friday, October 20th. Zacks Investment Research cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. National Bank Financial boosted their price target on Brookfield Renewable Partners from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 18th. GMP Securities restated a “hold” rating and issued a $34.50 price target on shares of Brookfield Renewable Partners in a research note on Friday, October 20th. Finally, CIBC cut Brookfield Renewable Partners from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, November 2nd. Twelve analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $36.45.

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About Brookfield Renewable Partners

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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