Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 28.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,480,927 shares of the utilities provider’s stock after acquiring an additional 324,653 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.52% of Brookfield Renewable Partners worth $33,687,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BEP. Wilmington Savings Fund Society FSB acquired a new position in Brookfield Renewable Partners in the 3rd quarter valued at $28,000. Promus Capital LLC acquired a new position in Brookfield Renewable Partners in the 4th quarter valued at $37,000. Jones Financial Companies Lllp raised its holdings in 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 valued at $59,000 after acquiring an additional 537 shares during the last quarter. Allworth Financial LP acquired a new position in Brookfield Renewable Partners in the 4th quarter valued at $68,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in 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 valued at $71,000 after acquiring an additional 1,391 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Up 1.6 %

Shares of Brookfield Renewable Partners stock opened at $23.21 on Thursday. The company has a fifty day moving average price of $22.14 and a 200 day moving average price of $24.37. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $29.56. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of -26.08 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping 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 previous year, the business posted $0.01 earnings per share. Equities research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.373 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners’s dividend payout ratio is presently -167.42%.

Analysts Set New Price Targets

A number of research firms have recently commented on BEP. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. CIBC dropped their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Scotiabank upped their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.50.

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.