Brookfield Renewable Partners L.P. $BEP Shares Sold by UBS Group AG

UBS Group AG cut its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 87.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,450 shares of the utilities provider’s stock after selling 1,052,198 shares during the period. UBS Group AG’s holdings in Brookfield Renewable Partners were worth $3,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its position in Brookfield Renewable Partners by 6.6% in the fourth quarter. Sanctuary Advisors LLC now owns 63,723 shares of the utilities provider’s stock valued at $1,719,000 after purchasing an additional 3,931 shares during the period. Warren Street Wealth Advisors LLC purchased a new stake in Brookfield Renewable Partners in the fourth quarter valued at approximately $225,000. Gold Investment Management Ltd. raised its position in Brookfield Renewable Partners by 3.6% in the fourth quarter. Gold Investment Management Ltd. now owns 101,946 shares of the utilities provider’s stock valued at $2,755,000 after purchasing an additional 3,524 shares during the period. TABR Capital Management LLC purchased a new stake in Brookfield Renewable Partners in the fourth quarter valued at approximately $544,000. Finally, TD Waterhouse Canada Inc. raised its position in Brookfield Renewable Partners by 2.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 833,139 shares of the utilities provider’s stock valued at $22,459,000 after purchasing an additional 18,887 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 0.5%

Brookfield Renewable Partners stock opened at $35.53 on Friday. Brookfield Renewable Partners L.P. has a twelve month low of $22.84 and a twelve month high of $35.97. The stock’s fifty day simple moving average is $33.29 and its 200-day simple moving average is $30.60. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $10.77 billion, a P/E ratio of -114.60 and a beta of 1.06.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. As a group, equities analysts expect that Brookfield Renewable Partners L.P. will post -1.38 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.4%. Brookfield Renewable Partners’s payout ratio is presently -503.23%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BEP shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $40.00 target price (up from $37.00) on shares of Brookfield Renewable Partners in a research report on Monday, April 20th. Morgan Stanley boosted their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. TD Securities reissued a “buy” rating and issued a $39.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. National Bank Financial boosted their target price on Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research report on Monday, May 4th. Finally, TD boosted their target price on Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.21.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.