Price T Rowe Associates Inc. MD Trims Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Price T Rowe Associates Inc. MD lowered its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,653 shares of the utilities provider’s stock after selling 13,105 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Brookfield Renewable Partners were worth $1,155,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at about $28,000. Promus Capital LLC acquired a new position in Brookfield Renewable Partners during the fourth quarter worth approximately $37,000. Jones Financial Companies Lllp raised its stake in Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 537 shares during the period. Allworth Financial LP acquired a new position in shares of Brookfield Renewable Partners in the 4th quarter valued at $68,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Brookfield Renewable Partners by 81.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider’s stock valued at $71,000 after buying an additional 1,391 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BEP. CIBC reduced their target price on Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. National Bankshares dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Finally, Scotiabank raised their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $23.26 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The company’s fifty day moving average price is $22.32 and its two-hundred day moving average price is $23.17. The firm has a market capitalization of $6.61 billion, a P/E ratio of -26.13 and a beta of 0.99. Brookfield Renewable Partners L.P. has a 12 month low of $19.29 and a 12 month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. The business had revenue of $907.00 million during the quarter, compared to analysts’ expectations of $1.73 billion. On average, research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a $0.373 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 annualized dividend and a yield of 6.41%. Brookfield Renewable Partners’s dividend payout ratio is presently -147.52%.

About Brookfield Renewable Partners

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.