Brookfield Renewable Partners L.P. (NYSE:BEP) Position Reduced by Mirabella Financial Services LLP

Mirabella Financial Services LLP lessened its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 45.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 256,175 shares of the utilities provider’s stock after selling 210,561 shares during the period. Mirabella Financial Services LLP owned approximately 0.09% of Brookfield Renewable Partners worth $5,838,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BEP. CIBC Asset Management Inc lifted its holdings in Brookfield Renewable Partners by 23.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after acquiring an additional 1,628,524 shares during the last quarter. Principal Financial Group Inc. grew its position in Brookfield Renewable Partners by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock worth $178,943,000 after buying an additional 246,163 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Brookfield Renewable Partners by 4.7% in the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock valued at $160,585,000 after buying an additional 315,272 shares in the last quarter. Cibc World Market Inc. boosted its stake in shares of Brookfield Renewable Partners by 4.4% during the 4th quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after acquiring an additional 116,593 shares in the last quarter. Finally, Scotia Capital Inc. grew its holdings in shares of Brookfield Renewable Partners by 13.5% in the 4th quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider’s stock worth $61,433,000 after acquiring an additional 323,619 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $21.54 on Friday. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of -24.20 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. 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 business has a fifty day simple moving average of $22.35 and a 200 day simple moving average of $23.60.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating 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 in the prior year, the company posted $0.01 EPS. As a group, sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 dividend on an annualized basis and a yield of 6.93%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BEP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. CIBC cut their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Monday, February 3rd. Scotiabank raised their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on shares of 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. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.18.

Brookfield Renewable Partners Profile

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.