Tyche Wealth Partners LLC Purchases 4,000 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Tyche Wealth Partners LLC grew its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 40.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,825 shares of the utilities provider’s stock after acquiring an additional 4,000 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Brookfield Renewable Partners were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Stifel Financial Corp increased its position in shares of Brookfield Renewable Partners by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock valued at $880,000 after purchasing an additional 403 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Brookfield Renewable Partners by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after purchasing an additional 749 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 945 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $28,000. Institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. 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. StockNews.com upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Monday. Scotiabank dropped their price objective on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Buy” and an average target price of $30.60.

Brookfield Renewable Partners Price Performance

Shares of BEP stock opened at $22.64 on Friday. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $29.56. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of -25.44 and a beta of 0.95. The stock has a fifty day simple moving average of $22.77 and a two-hundred day simple moving average of $24.65. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping 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 in the previous year, the business posted $0.01 earnings per share. On average, analysts predict that Brookfield Renewable Partners L.P. will post -0.76 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 6.59%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is currently -159.55%.

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.