Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. boosted its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,751,587 shares of the utilities provider’s stock after acquiring an additional 116,593 shares during the period. Cibc World Market Inc.’s holdings in Brookfield Renewable Partners were worth $62,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BEP. The Manufacturers Life Insurance Company increased its stake in shares of Brookfield Renewable Partners by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock worth $6,988,000 after buying an additional 1,333 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Brookfield Renewable Partners in the second quarter valued at approximately $359,000. GAMMA Investing LLC boosted its holdings in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares during the period. Creative Planning acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth $206,000. Finally, Aspiriant LLC acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth $241,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Performance

BEP opened at $20.68 on Friday. The firm has a market capitalization of $5.90 billion, a P/E ratio of -25.22 and a beta of 0.95. The stock’s 50 day moving average price is $23.19 and its two-hundred day moving average price is $24.78. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. During the same quarter last year, the business earned ($0.14) EPS. On average, equities analysts forecast that Brookfield Renewable Partners L.P. will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.355 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 6.87%. Brookfield Renewable Partners’s payout ratio is -173.17%.

Wall Street Analysts Forecast Growth

BEP has been the subject of several research analyst reports. National Bankshares cut their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Scotiabank decreased their price target on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. Finally, CIBC raised their target price on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.78.

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.