Fort Sheridan Advisors LLC lowered its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP – Get Rating) (TSE:BEP) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,325 shares of the utilities provider’s stock after selling 1,198 shares during the period. Fort Sheridan Advisors LLC’s holdings in Brookfield Renewable Partners were worth $917,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in BEP. 1832 Asset Management L.P. increased its holdings in Brookfield Renewable Partners by 23.7% during the 4th quarter. 1832 Asset Management L.P. now owns 6,325,282 shares of the utilities provider’s stock valued at $224,076,000 after purchasing an additional 1,211,969 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Brookfield Renewable Partners by 11.9% during the 4th quarter. Principal Financial Group Inc. now owns 4,159,745 shares of the utilities provider’s stock worth $148,876,000 after acquiring an additional 442,080 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Brookfield Renewable Partners by 41.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,498,260 shares of the utilities provider’s stock worth $125,402,000 after purchasing an additional 1,018,289 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Brookfield Renewable Partners by 10.6% in the 4th quarter. First Trust Advisors LP now owns 2,350,973 shares of the utilities provider’s stock worth $84,141,000 after purchasing an additional 225,118 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its position in Brookfield Renewable Partners by 3.8% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,153,614 shares of the utilities provider’s stock valued at $77,078,000 after acquiring an additional 78,250 shares in the last quarter. Institutional investors own 55.98% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Raymond James set a $42.00 price objective on Brookfield Renewable Partners and gave the company an “outperform” rating in a research report on Monday, May 9th. National Bankshares increased their price target on Brookfield Renewable Partners from $31.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, May 9th. Finally, TD Securities upgraded Brookfield Renewable Partners from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Monday, May 9th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.67.
Brookfield Renewable Partners Trading Up 1.1 %
Brookfield Renewable Partners (NYSE:BEP – Get Rating) (TSE:BEP) last issued its quarterly earnings results on Friday, May 6th. The utilities provider reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.72% and a negative net margin of 3.59%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Brookfield Renewable Partners L.P. will post -0.12 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 Thursday, September 29th. Stockholders of record on Wednesday, August 31st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Tuesday, August 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -206.45%.
About Brookfield Renewable Partners
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.
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