Epiq Partners LLC Trims Holdings in Brookfield Renewable Partners L.P. $BEP

Epiq Partners LLC decreased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 22.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,210 shares of the utilities provider’s stock after selling 27,992 shares during the period. Brookfield Renewable Partners accounts for about 1.2% of Epiq Partners LLC’s investment portfolio, making the stock its 27th largest position. Epiq Partners LLC’s holdings in Brookfield Renewable Partners were worth $2,568,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 16.2% in the third quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after purchasing an additional 1,414,837 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Brookfield Renewable Partners by 6.5% during the 3rd quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock valued at $179,837,000 after buying an additional 428,446 shares in the last quarter. Scotia Capital Inc. boosted its holdings in Brookfield Renewable Partners by 2.5% in the 3rd quarter. Scotia Capital Inc. now owns 2,751,581 shares of the utilities provider’s stock worth $70,795,000 after buying an additional 67,481 shares during the period. National Bank of Canada FI increased its stake in Brookfield Renewable Partners by 8.4% in the 3rd quarter. National Bank of Canada FI now owns 2,697,265 shares of the utilities provider’s stock worth $69,226,000 after buying an additional 207,985 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Brookfield Renewable Partners by 20.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,791,832 shares of the utilities provider’s stock worth $46,211,000 after buying an additional 301,229 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BEP. Barclays set a $28.00 price objective on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research report on Friday, January 23rd. UBS Group reissued a “buy” rating and set a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a research note on Friday, December 5th. Desjardins raised shares of Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Morgan Stanley reissued an “overweight” rating and set a $38.00 price target (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th. Finally, Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the company a “neutral” rating in a report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average target price of $34.93.

Brookfield Renewable Partners Price Performance

BEP stock opened at $30.87 on Friday. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $32.78. The firm has a market capitalization of $9.43 billion, a P/E ratio of -118.73 and a beta of 1.13. The company has a fifty day simple moving average of $30.25 and a two-hundred day simple moving average of $28.56. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.88. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. Analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a $0.392 dividend. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a yield of 5.1%. The ex-dividend date is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -600.00%.

Brookfield Renewable Partners 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.