Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Adalta Capital Management LLC

Adalta Capital Management LLC reduced its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,351 shares of the utilities provider’s stock after selling 549 shares during the period. Adalta Capital Management LLC’s holdings in Brookfield Renewable Partners were worth $532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BEP. Promus Capital LLC acquired a new position in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp lifted its position 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 acquired a new position in shares of Brookfield Renewable Partners in the 4th quarter valued at about $68,000. Steward Partners Investment Advisory LLC raised its stake in Brookfield Renewable Partners by 81.4% during the fourth 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 period. Finally, Barclays PLC raised its stake in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 2,036 shares during the period. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

NYSE BEP opened at $24.27 on Wednesday. The stock’s 50-day moving average price is $22.52 and its two-hundred day moving average price is $23.02. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year 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 company has a market cap of $6.89 billion, a PE ratio of -27.27 and a beta of 0.99.

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

Brookfield Renewable Partners Announces Dividend

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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 annualized dividend and a yield of 6.15%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -147.52%.

Analyst Upgrades and Downgrades

BEP has been the subject of several recent research reports. CIBC lowered their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating for the company in a report on Monday, May 5th. Scotiabank upped their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. National Bankshares dropped their price target on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Finally, Barclays started coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.