DAVENPORT & Co LLC Sells 3,309 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

DAVENPORT & Co LLC reduced its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEPFree Report) (TSE:BEP) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,178 shares of the utilities provider’s stock after selling 3,309 shares during the period. DAVENPORT & Co LLC owned 0.14% of Brookfield Renewable Partners worth $10,646,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BEP. Raymond James & Associates raised its holdings in Brookfield Renewable Partners by 1.3% during the first quarter. Raymond James & Associates now owns 36,752 shares of the utilities provider’s stock valued at $1,509,000 after buying an additional 461 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Brookfield Renewable Partners by 1.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,130 shares of the utilities provider’s stock valued at $1,853,000 after buying an additional 453 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Brookfield Renewable Partners by 26.5% during the first quarter. PNC Financial Services Group Inc. now owns 8,767 shares of the utilities provider’s stock valued at $360,000 after buying an additional 1,838 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Brookfield Renewable Partners by 402.2% during the first quarter. Mackenzie Financial Corp now owns 123,848 shares of the utilities provider’s stock valued at $5,091,000 after buying an additional 99,188 shares in the last quarter. Finally, Parkwood LLC bought a new position in shares of Brookfield Renewable Partners in the first quarter worth about $1,366,000. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Price Performance

BEP stock opened at $23.01 on Wednesday. Brookfield Renewable Partners L.P. has a twelve month low of $19.97 and a twelve month high of $32.76. The business’s 50-day simple moving average is $23.70 and its 200 day simple moving average is $24.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last released its earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.08 billion. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business earned ($0.16) earnings per share.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were paid a $0.355 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 6.17%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. Brookfield Renewable Partners’s payout ratio is -421.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BEP shares. National Bankshares lifted their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $28.00 price objective (down from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.60.

View Our Latest Stock Report on Brookfield Renewable Partners

Brookfield Renewable Partners Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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