SeaCrest Wealth Management LLC Makes New $491,000 Investment in Brookfield Renewable Partners L.P. (NYSE:BEP)

SeaCrest Wealth Management LLC bought a new position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,804 shares of the utilities provider’s stock, valued at approximately $491,000.

Several other large investors also recently added to or reduced their stakes in BEP. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Brookfield Renewable Partners by 71.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 18,000 shares of the utilities provider’s stock worth $446,000 after buying an additional 7,500 shares during the period. Rempart Asset Management Inc. boosted its holdings in shares of Brookfield Renewable Partners by 5.1% during the 2nd quarter. Rempart Asset Management Inc. now owns 333,405 shares of the utilities provider’s stock worth $8,244,000 after buying an additional 16,150 shares during the period. Walnut Private Equity Partners LLC boosted its holdings in shares of Brookfield Renewable Partners by 3.9% during the 2nd quarter. Walnut Private Equity Partners LLC now owns 131,804 shares of the utilities provider’s stock worth $3,265,000 after buying an additional 5,000 shares during the period. Cetera Advisors LLC bought a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth $243,000. Finally, Virtu Financial LLC bought a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth $329,000. 63.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BEP. BMO Capital Markets increased their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Raymond James reduced their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, August 5th. Scotiabank increased 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. Finally, CIBC increased their price target on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.82.

Brookfield Renewable Partners Trading Down 0.2 %

Shares of NYSE BEP traded down $0.04 during mid-day trading on Wednesday, hitting $23.89. The company’s stock had a trading volume of 53,326 shares, compared to its average volume of 482,001. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of -52.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.56 and a quick ratio of 0.56. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $28.81. The company’s fifty day simple moving average is $24.90 and its 200-day simple moving average is $24.42.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned ($0.10) EPS. The firm’s revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -0.49 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Renewable Partners’s payout ratio is -308.70%.

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.