Fmr LLC Reduces Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Fmr LLC reduced its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 13.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,396,048 shares of the utilities provider’s stock after selling 669,599 shares during the period. Fmr LLC’s holdings in Brookfield Renewable Partners were worth $123,972,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BEP. Intact Investment Management Inc. acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $42,331,000. MAI Capital Management lifted its stake in shares of Brookfield Renewable Partners by 294.2% in the 3rd quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock valued at $2,443,000 after purchasing an additional 64,695 shares during the last quarter. Mirabella Financial Services LLP lifted its stake in shares of Brookfield Renewable Partners by 145.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock valued at $13,153,000 after purchasing an additional 276,374 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Brookfield Renewable Partners by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock valued at $58,805,000 after purchasing an additional 67,777 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its stake in shares of Brookfield Renewable Partners by 105.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 334,822 shares of the utilities provider’s stock valued at $9,435,000 after purchasing an additional 172,028 shares during the last quarter. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP opened at $25.15 on Thursday. The stock’s 50-day moving average is $26.46 and its two-hundred day moving average is $25.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a market cap of $7.17 billion, a price-to-earnings ratio of -30.67 and a beta of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. During the same quarter last year, the company earned ($0.14) EPS. Analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 5.65%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

Analyst Ratings Changes

BEP has been the topic of several recent analyst reports. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC increased their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Company Profile

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.