Zevin Asset Management LLC Makes New Investment in Brookfield Renewable Partners L.P. (NYSE:BEP)

Zevin Asset Management LLC purchased a new stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 4th quarter, HoldingsChannel reports. The fund purchased 9,483 shares of the utilities provider’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CIBC Asset Management Inc increased its stake in shares of Brookfield Renewable Partners by 23.8% in the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after buying an additional 1,628,524 shares during the period. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock valued at $178,943,000 after buying an additional 246,163 shares during the period. Bank of Montreal Can increased its stake in shares of Brookfield Renewable Partners by 0.4% in the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after buying an additional 26,189 shares during the period. Cibc World Market Inc. increased its stake in shares of Brookfield Renewable Partners by 4.4% in the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock valued at $62,647,000 after buying an additional 116,593 shares during the period. Finally, CCLA Investment Management increased its stake in shares of Brookfield Renewable Partners by 1.9% in the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after buying an additional 49,553 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Down 0.1 %

Shares of NYSE:BEP opened at $22.78 on Friday. The business’s 50 day simple moving average is $22.12 and its two-hundred day simple moving average is $24.35. The firm has a market cap of $6.50 billion, a P/E ratio of -25.60 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 52-week low of $19.92 and a 52-week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (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 return on equity of 0.03% and a negative net margin of 0.15%. During the same period last year, the firm earned $0.01 EPS. As a group, research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal 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. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date is Friday, February 28th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Scotiabank upped their target price 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. Wells Fargo & Company cut their target price 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, CIBC cut their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $30.50.

About Brookfield Renewable Partners

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.