Coronation Fund Managers Ltd. Decreases Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Coronation Fund Managers Ltd. reduced its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 33.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,667 shares of the utilities provider’s stock after selling 84,507 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Brookfield Renewable Partners were worth $4,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in Brookfield Renewable Partners by 8.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock worth $248,000 after buying an additional 750 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Brookfield Renewable Partners by 0.9% in the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock worth $2,017,000 after acquiring an additional 768 shares during the period. Tidal Investments LLC boosted its holdings in shares of Brookfield Renewable Partners by 2.5% in the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 894 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after acquiring an additional 900 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 82,262 shares of the utilities provider’s stock worth $2,162,000 after acquiring an additional 1,126 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on BEP shares. Scotiabank raised their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, June 12th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $31.00 in a research note on Monday. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average target price of $32.50.

Brookfield Renewable Partners Stock Up 0.2 %

BEP opened at $28.25 on Wednesday. The company has a market cap of $8.05 billion, a P/E ratio of -61.41 and a beta of 0.93. The business’s 50-day moving average price is $25.13 and its 200-day moving average price is $24.91. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.41). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) EPS. On average, equities analysts expect that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.355 per share. The ex-dividend date was Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a yield of 5.03%. Brookfield Renewable Partners’s dividend payout ratio is presently -308.70%.

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.