Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lessened its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 16.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 707,791 shares of the utilities provider’s stock after selling 136,970 shares during the period. Goldman Sachs Group Inc.’s holdings in Brookfield Renewable Partners were worth $18,601,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its holdings in Brookfield Renewable Partners by 0.9% during the third quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock worth $288,107,000 after acquiring an additional 117,246 shares during the period. FIL Ltd lifted its stake in Brookfield Renewable Partners by 37.1% during the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after purchasing an additional 3,474,522 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Brookfield Renewable Partners by 1.4% during the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock valued at $326,691,000 after purchasing an additional 173,402 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 6.4% during the fourth quarter. Principal Financial Group Inc. now owns 6,905,963 shares of the utilities provider’s stock worth $181,489,000 after buying an additional 415,667 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Brookfield Renewable Partners by 63.2% in the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock worth $162,917,000 after buying an additional 2,394,853 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $25.38 on Thursday. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of -55.19 and a beta of 0.94. Brookfield Renewable Partners L.P. has a 1 year low of $19.92 and a 1 year high of $30.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $25.61 and a 200 day simple moving average of $24.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). The firm had revenue of $875.00 million for the quarter, compared to analysts’ expectations of $828.39 million. Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. As a group, sell-side analysts predict that Brookfield Renewable Partners L.P. will post -0.49 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio is -308.69%.

Analyst Upgrades and Downgrades

BEP has been the subject of a number of recent research reports. TD Securities increased their price objective on Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Scotiabank increased their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 12th. Raymond James reduced their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. National Bankshares lifted their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. Finally, Royal Bank of Canada upped their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average target price of $31.17.

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.