AGF Management Ltd. Reduces Stock Position in Brookfield Renewable Partners L.P. $BEP

AGF Management Ltd. decreased its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 14.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,223,162 shares of the utilities provider’s stock after selling 205,770 shares during the period. AGF Management Ltd. owned 0.43% of Brookfield Renewable Partners worth $32,068,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hilltop National Bank bought a new stake in shares of Brookfield Renewable Partners during the second quarter valued at about $34,000. Russell Investments Group Ltd. purchased a new stake in shares of Brookfield Renewable Partners in the second quarter worth $34,000. Root Financial Partners LLC bought a new stake in Brookfield Renewable Partners during the third quarter valued at $46,000. Activest Wealth Management bought a new position in Brookfield Renewable Partners in the 2nd quarter worth about $50,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $72,000. Institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays set a $28.00 price objective on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $38.00 price target (up previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th. Desjardins raised Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th. UBS Group reaffirmed a “buy” rating and issued a $39.00 price objective (up previously from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Finally, TD Securities lifted their target price on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average price target of $34.79.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock opened at $29.84 on Tuesday. The company’s fifty day simple moving average is $27.92 and its two-hundred day simple moving average is $27.35. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $32.72. The firm has a market cap of $9.13 billion, a PE ratio of -114.77 and a beta of 1.12. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.18% and a net margin of 11.11%.The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. As a group, equities analysts expect 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 Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.392 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a dividend yield of 5.3%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s dividend payout ratio is -573.08%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.