Cibc World Market Inc. Reduces Stake in Brookfield Renewable Partners L.P. $BEP

Cibc World Market Inc. lessened its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,862,172 shares of the utilities provider’s stock after selling 170,092 shares during the quarter. Cibc World Market Inc.’s holdings in Brookfield Renewable Partners were worth $73,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. S&CO Inc. purchased a new stake in shares of Brookfield Renewable Partners in the 2nd quarter valued at $255,000. Liontrust Investment Partners LLP acquired a new position in Brookfield Renewable Partners during the second quarter valued at $24,180,000. HB Wealth Management LLC purchased a new stake in Brookfield Renewable Partners in the third quarter valued at $979,000. NINE MASTS CAPITAL Ltd purchased a new stake in Brookfield Renewable Partners in the second quarter valued at $5,552,000. Finally, Principal Financial Group Inc. grew its position in Brookfield Renewable Partners by 16.2% during the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after purchasing an additional 1,414,837 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, November 24th. Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the company a “neutral” rating in a research report on Monday, February 2nd. Barclays set a $28.00 price objective on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. TD Securities raised their price objective on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Finally, BMO Capital Markets set a $36.00 target price on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average target price of $34.79.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $30.87 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.58 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $32.72. The business’s 50 day moving average is $28.17 and its two-hundred day moving average is $27.47. The company has a market capitalization of $8.76 billion, a P/E ratio of -118.73 and a beta of 1.14.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%.The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. Analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.392 per share. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Friday, February 27th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -573.08%.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.