Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. lessened its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,212 shares of the utilities provider’s stock after selling 2,650 shares during the period. Waterfront Wealth Inc.’s holdings in Brookfield Renewable Partners were worth $295,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Brookfield Renewable Partners by 36.7% in the second quarter. Royal Bank of Canada now owns 13,135,145 shares of the utilities provider’s stock valued at $387,355,000 after purchasing an additional 3,523,830 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Brookfield Renewable Partners by 106.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,442,452 shares of the utilities provider’s stock valued at $100,311,000 after purchasing an additional 1,261,692 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Brookfield Renewable Partners by 286.2% in the third quarter. Ameriprise Financial Inc. now owns 917,641 shares of the utilities provider’s stock valued at $19,950,000 after purchasing an additional 680,035 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Brookfield Renewable Partners by 1,866.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 713,665 shares of the utilities provider’s stock valued at $22,488,000 after acquiring an additional 677,366 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Brookfield Renewable Partners by 8.7% during the fourth quarter. 1832 Asset Management L.P. now owns 7,954,595 shares of the utilities provider’s stock valued at $201,569,000 after acquiring an additional 634,671 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock traded up $0.19 during midday trading on Thursday, hitting $20.44. 61,122 shares of the company were exchanged, compared to its average volume of 459,283. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.57 and a current ratio of 0.57. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $32.76. The company’s fifty day moving average price is $22.82 and its 200-day moving average price is $23.85.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.01 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a $0.355 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.42 annualized dividend and a dividend yield of 6.95%. Brookfield Renewable Partners’s payout ratio is -421.88%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. National Bankshares increased their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $28.00 target price (down from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.60.

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.