Epiq Partners LLC Reduces Stock Holdings in Brookfield Renewable Partners L.P. $BEP

Epiq Partners LLC lowered its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 22.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 95,210 shares of the utilities provider’s stock after selling 27,992 shares during the quarter. Brookfield Renewable Partners makes up 1.2% of Epiq Partners LLC’s holdings, making the stock its 27th biggest position. Epiq Partners LLC’s holdings in Brookfield Renewable Partners were worth $2,568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of BEP. Liontrust Investment Partners LLP purchased a new position in Brookfield Renewable Partners during the second quarter worth $24,180,000. HB Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners in the third quarter valued at $979,000. Ovata Capital Management Ltd bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth about $4,511,000. NINE MASTS CAPITAL Ltd purchased a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth about $5,552,000. Finally, Principal Financial Group Inc. grew its holdings 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 valued at $261,189,000 after purchasing an additional 1,414,837 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 3.1%

Shares of NYSE BEP opened at $30.87 on Friday. Brookfield Renewable Partners L.P. has a twelve month low of $19.29 and a twelve month high of $32.78. The firm has a market cap of $9.43 billion, a PE ratio of -118.73 and a beta of 1.13. The business has a fifty day simple moving average of $30.25 and a two-hundred day simple moving average of $28.56. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80.

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

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be issued a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 5.1%. The ex-dividend date is Friday, February 27th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -600.00%.

Analyst Ratings Changes

BEP has been the topic of a number of analyst reports. Barclays set a $28.00 target price on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Mizuho set a $31.00 price objective on Brookfield Renewable Partners and gave the company a “neutral” rating in a research report on Monday, February 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $38.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, November 24th. National Bank Financial lifted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Finally, Wall Street Zen upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.93.

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.