Texas Yale Capital Corp. Acquires 2,800 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Texas Yale Capital Corp. lifted its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,850 shares of the utilities provider’s stock after acquiring an additional 2,800 shares during the quarter. Texas Yale Capital Corp.’s holdings in Brookfield Renewable Partners were worth $771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth $28,000. Promus Capital LLC bought a new stake in Brookfield Renewable Partners during the 4th quarter worth about $37,000. Jones Financial Companies Lllp grew its stake in shares of Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock valued at $59,000 after buying an additional 537 shares in the last quarter. Allworth Financial LP bought a new stake in Brookfield Renewable Partners in the fourth quarter valued at approximately $68,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Brookfield Renewable Partners by 81.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock worth $71,000 after buying an additional 1,391 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. CIBC decreased their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. Scotiabank upped their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Barclays initiated coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price target on the stock. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Finally, National Bankshares cut their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.18.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $21.82 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The stock has a 50 day moving average price of $22.44 and a two-hundred day moving average price of $23.92. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $29.56. The firm has a market capitalization of $6.21 billion, a P/E ratio of -24.52 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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 earnings per share. Equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.84%. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is -167.42%.

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.