Dixon Mitchell Investment Counsel Inc. Buys Shares of 1,321 Brookfield Renewable Partners L.P. (NYSE:BEP)

Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,321 shares of the utilities provider’s stock, valued at approximately $31,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its position in shares of Brookfield Renewable Partners by 8.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 750 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Brookfield Renewable Partners by 17.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after buying an additional 900 shares during the period. SFE Investment Counsel grew its position in shares of Brookfield Renewable Partners by 2.1% during the 4th quarter. SFE Investment Counsel now owns 48,281 shares of the utilities provider’s stock worth $1,269,000 after buying an additional 1,000 shares in the last quarter. Baystate Wealth Management LLC purchased a new position in shares of Brookfield Renewable Partners during the fourth quarter valued at $26,000. Finally, Franklin Resources Inc. raised its holdings in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 82,262 shares of the utilities provider’s stock valued at $2,162,000 after acquiring an additional 1,126 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BEP shares. Scotiabank boosted their price target on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 12th. CIBC raised their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. TD Securities increased their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Royal Bank of Canada increased their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, Raymond James reduced their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.17.

Brookfield Renewable Partners Stock Up 1.3 %

Shares of Brookfield Renewable Partners stock opened at $24.80 on Wednesday. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $30.32. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50 day simple moving average is $26.04 and its 200-day simple moving average is $24.78.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.30%. The firm had revenue of $875.00 million during the quarter, compared to analysts’ expectations of $828.39 million. On average, equities analysts anticipate that Brookfield Renewable Partners L.P. will post -0.49 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a $0.355 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a yield of 5.73%. Brookfield Renewable Partners’s dividend payout ratio is currently -308.69%.

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.