Davis Rea LTD. Sells 399 Shares of Brookfield Renewable Partners L.P. $BEP

Davis Rea LTD. reduced its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,394 shares of the utilities provider’s stock after selling 399 shares during the period. Davis Rea LTD. owned 0.05% of Brookfield Renewable Partners worth $3,896,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BEP. GAMMA Investing LLC increased its stake in shares of Brookfield Renewable Partners by 2,913.2% in the first quarter. GAMMA Investing LLC now owns 19,013 shares of the utilities provider’s stock worth $421,000 after purchasing an additional 18,382 shares during the period. NBC Securities Inc. bought a new position in shares of Brookfield Renewable Partners in the first quarter worth about $42,000. Sowell Financial Services LLC bought a new position in shares of Brookfield Renewable Partners in the first quarter worth about $213,000. Trifecta Capital Advisors LLC bought a new position in shares of Brookfield Renewable Partners in the first quarter worth about $69,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Brookfield Renewable Partners by 16.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider’s stock worth $574,000 after purchasing an additional 3,722 shares during the period. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Stock Down 2.9%

BEP stock opened at $26.45 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.97. The business’s 50-day simple moving average is $25.55 and its 200 day simple moving average is $24.67. The company has a market cap of $7.51 billion, a PE ratio of -27.84 and a beta of 1.13. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. On average, research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th were issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Renewable Partners’s payout ratio is presently -156.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Renewable Partners in a research note on Wednesday. Scotiabank lifted their price objective on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Raymond James Financial downgraded Brookfield Renewable Partners from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Finally, Mizuho lifted their target price on Brookfield Renewable Partners from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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.