Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by FIL Ltd

FIL Ltd trimmed its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 24.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,808,424 shares of the utilities provider’s stock after selling 3,181,720 shares during the period. FIL Ltd’s holdings in Brookfield Renewable Partners were worth $223,401,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets raised its stake in Brookfield Renewable Partners by 609.2% in the third quarter. BNP Paribas Financial Markets now owns 11,808 shares of the utilities provider’s stock valued at $333,000 after buying an additional 10,143 shares in the last quarter. HighTower Advisors LLC raised 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 worth $1,321,000 after acquiring an additional 749 shares in the last quarter. Stifel Financial Corp lifted its stake in Brookfield Renewable Partners by 1.3% during the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 403 shares during the last quarter. Barclays PLC increased its stake in Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in Brookfield Renewable Partners by 11.1% during the third quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock worth $48,905,000 after purchasing an additional 173,882 shares in the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Down 1.9 %

NYSE:BEP opened at $20.12 on Wednesday. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $29.56. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock’s 50 day simple moving average is $22.41 and its 200-day simple moving average is $23.97. The firm has a market cap of $5.73 billion, a P/E ratio of -22.60 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data 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 net margin of 0.15% and a negative return on equity of 0.03%. During the same period in the previous year, the company posted $0.01 EPS. Equities analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a $0.373 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 7.42%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -167.42%.

Wall Street Analysts Forecast Growth

BEP has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. CIBC dropped their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. 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, February 3rd. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. Finally, Scotiabank boosted their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.18.

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.