CIBC Private Wealth Group LLC Sells 77,847 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

CIBC Private Wealth Group LLC decreased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 838,639 shares of the utilities provider’s stock after selling 77,847 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.29% of Brookfield Renewable Partners worth $18,978,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BEP. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners during the third quarter worth about $28,000. Promus Capital LLC purchased a new position in Brookfield Renewable Partners in the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp increased its holdings in shares of Brookfield Renewable Partners by 26.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after buying an additional 537 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at $68,000. Finally, Steward Partners Investment Advisory LLC lifted 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 acquiring an additional 1,391 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BEP has been the topic of a number of research analyst reports. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Finally, National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Brookfield Renewable Partners Stock Down 0.5 %

Shares of NYSE BEP opened at $22.14 on Tuesday. The company has a market cap of $6.30 billion, a price-to-earnings ratio of -24.88 and a beta of 1.02. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average is $22.35 and its 200 day moving average is $24.20. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter last year, the company earned $0.01 earnings per share. On average, equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date was Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio is currently -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.