Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Bought by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 210,000 shares of the utilities provider's stock after acquiring an additional 30,000 shares during the period. Nicola Wealth Management LTD. owned about 0.07% of Brookfield Renewable Partners worth $5,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BEP. Commonwealth Equity Services LLC increased its holdings in shares of Brookfield Renewable Partners by 3.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 34,683 shares of the utilities provider's stock valued at $754,000 after purchasing an additional 1,047 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Brookfield Renewable Partners by 0.9% during the 3rd quarter. Principal Financial Group Inc. now owns 6,490,296 shares of the utilities provider's stock valued at $141,099,000 after acquiring an additional 57,177 shares during the period. Clearstead Advisors LLC boosted its stake in shares of Brookfield Renewable Partners by 8.5% during the 3rd quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider's stock worth $269,000 after acquiring an additional 967 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Brookfield Renewable Partners by 14.3% in the 3rd quarter. Avantax Advisory Services Inc. now owns 18,236 shares of the utilities provider's stock worth $396,000 after acquiring an additional 2,288 shares during the period. Finally, Fort Sheridan Advisors LLC increased its stake in Brookfield Renewable Partners by 7.1% in the 3rd quarter. Fort Sheridan Advisors LLC now owns 65,092 shares of the utilities provider's stock valued at $1,415,000 after purchasing an additional 4,290 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Down 0.5 %

BEP traded down $0.14 during trading on Friday, hitting $27.81. The company's stock had a trading volume of 306,298 shares, compared to its average volume of 528,437. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $32.28. The firm's 50 day moving average price is $23.24 and its 200-day moving average price is $24.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $7.93 billion, a PE ratio of -60.46 and a beta of 0.82.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 annualized dividend and a yield of 5.11%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -308.69%.

Analysts Set New Price Targets

BEP has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, May 6th. CIBC increased their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, May 6th. StockNews.com cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Monday, March 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $28.00 price target (down from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, February 12th. Finally, Raymond James cut their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set a "strong-buy" rating for the company in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.75.

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.

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