Brookfield Renewable Partners L.P. $BEP Shares Bought by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. raised its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 7.4% in the 2nd quarter, Holdings Channel reports. The fund owned 28,270 shares of the utilities provider’s stock after acquiring an additional 1,945 shares during the period. SOA Wealth Advisors LLC.’s holdings in Brookfield Renewable Partners were worth $721,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BEP. GAMMA Investing LLC raised its holdings in Brookfield Renewable Partners by 2,913.2% during the first quarter. GAMMA Investing LLC now owns 19,013 shares of the utilities provider’s stock worth $421,000 after purchasing an additional 18,382 shares in the last quarter. NBC Securities Inc. acquired a new position in Brookfield Renewable Partners during the 1st quarter worth approximately $42,000. Epiq Partners LLC raised its stake in shares of Brookfield Renewable Partners by 21.6% during the 1st quarter. Epiq Partners LLC now owns 127,928 shares of the utilities provider’s stock worth $2,835,000 after buying an additional 22,700 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at approximately $5,540,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of Brookfield Renewable Partners in the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 3.5%

BEP stock opened at $26.70 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. The company’s 50 day simple moving average is $25.54 and its 200-day simple moving average is $24.49. Brookfield Renewable Partners L.P. has a 12 month low of $19.29 and a 12 month high of $29.56. The firm has a market capitalization of $7.58 billion, a PE ratio of -28.11 and a beta of 1.13.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. Equities analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, August 29th were paid a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 5.6%. Brookfield Renewable Partners’s dividend payout ratio is presently -156.84%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. National Bank Financial upgraded Brookfield Renewable Partners to a “strong-buy” rating in a research report on Sunday, June 8th. CIBC increased their price target on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an “outperformer” rating in a report on Monday, July 21st. Mizuho increased their target price on shares of Brookfield Renewable Partners from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, September 26th. National Bankshares boosted their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Finally, Scotiabank upped their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.00.

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.