Brookfield Renewable Partners L.P. (NYSE:BEP) Stock Position Reduced by Select Equity Group L.P.

Select Equity Group L.P. lessened its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 80.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 523,114 shares of the utilities provider’s stock after selling 2,191,457 shares during the quarter. Select Equity Group L.P.’s holdings in Brookfield Renewable Partners were worth $11,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BEP. Promus Capital LLC bought a new position in Brookfield Renewable Partners during the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp lifted 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 purchasing an additional 537 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $68,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Brookfield Renewable Partners by 81.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 1,391 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Brookfield Renewable Partners by 13.5% in the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider’s stock worth $183,000 after purchasing an additional 951 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 1.3%

Shares of Brookfield Renewable Partners stock opened at $24.43 on Friday. The business’s fifty day moving average price is $22.45 and its two-hundred day moving average price is $23.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The company has a market capitalization of $6.93 billion, a P/E ratio of -27.45 and a beta of 0.99. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The business had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. As a group, research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.11%. The ex-dividend date is Friday, May 30th. Brookfield Renewable Partners’s payout ratio is currently -147.52%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BEP shares. CIBC cut their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. cut their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company cut their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Barclays started coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They issued an “equal weight” rating and a $27.00 price target on the stock. Finally, National Bankshares cut their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.67.

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.