Brookfield Renewable Partners L.P. $BEP Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. decreased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 104,797 shares of the utilities provider’s stock after selling 2,557 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Brookfield Renewable Partners were worth $2,686,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BEP. Hilltop National Bank acquired a new position in Brookfield Renewable Partners in the 2nd quarter valued at $34,000. Russell Investments Group Ltd. acquired a new stake in shares of Brookfield Renewable Partners during the second quarter worth $34,000. Activest Wealth Management purchased a new stake in shares of Brookfield Renewable Partners in the second quarter valued at $50,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Brookfield Renewable Partners by 136.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,576 shares during the period. Finally, Allworth Financial LP increased its stake in Brookfield Renewable Partners by 76.7% in the second quarter. Allworth Financial LP now owns 5,300 shares of the utilities provider’s stock valued at $135,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $28.24 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $32.72. The firm has a market capitalization of $8.64 billion, a P/E ratio of -29.72 and a beta of 1.16. The business’s 50-day simple moving average is $28.28 and its 200-day simple moving average is $26.39.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.22. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. Equities analysts predict 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 Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.26%.

Analyst Ratings Changes

A number of analysts have issued reports on BEP shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Renewable Partners in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 29th. CIBC set a $35.00 target price on shares of Brookfield Renewable Partners and gave the stock an “outperformer” rating in a research report on Thursday, November 6th. BMO Capital Markets set a $36.00 target price on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.79.

Brookfield Renewable Partners Company 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.