Cibc World Market Inc. Cuts Stock Holdings in Brookfield Renewable Partners L.P. $BEP

Cibc World Market Inc. lowered its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,862,172 shares of the utilities provider’s stock after selling 170,092 shares during the quarter. Cibc World Market Inc. owned approximately 1.01% of Brookfield Renewable Partners worth $73,754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in Brookfield Renewable Partners during the second quarter valued at approximately $34,000. Root Financial Partners LLC bought a new stake in Brookfield Renewable Partners during the 3rd quarter valued at $46,000. Hilltop National Bank increased its holdings in shares of Brookfield Renewable Partners by 37.6% in the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 500 shares during the period. Activest Wealth Management purchased a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at $50,000. Finally, JCIC Asset Management Inc. bought a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth $72,000. 63.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce set a $35.00 price objective on Brookfield Renewable Partners and gave the company an “outperformer” rating in a research report on Thursday, November 6th. 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 report on Monday, November 24th. TD Securities lifted their price objective on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. Finally, Scotiabank reissued an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Brookfield Renewable Partners in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.79.

Brookfield Renewable Partners Stock Down 0.2%

NYSE:BEP opened at $30.87 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.58 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $32.72. The company has a market cap of $8.76 billion, a PE ratio of -118.73 and a beta of 1.14. The company’s 50 day moving average is $28.17 and its two-hundred day moving average is $27.47.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.88. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations 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 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.392 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 5.1%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s payout ratio is presently -573.08%.

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.