CIBC Asset Management Inc Decreases Stake in Brookfield Renewable Partners L.P. $BEP

CIBC Asset Management Inc reduced its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,567,224 shares of the utilities provider’s stock after selling 23,348 shares during the period. CIBC Asset Management Inc’s holdings in Brookfield Renewable Partners were worth $123,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in Brookfield Renewable Partners by 1.8% in the 4th quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock valued at $277,930,000 after buying an additional 177,599 shares during the last quarter. Bank of Montreal Can boosted its position in Brookfield Renewable Partners by 6.5% in the 3rd quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock valued at $179,837,000 after buying an additional 428,446 shares during the last quarter. Scotia Capital Inc. boosted its position in Brookfield Renewable Partners by 2.5% in the 3rd quarter. Scotia Capital Inc. now owns 2,751,581 shares of the utilities provider’s stock valued at $70,795,000 after buying an additional 67,481 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Brookfield Renewable Partners by 8.4% during the 3rd quarter. National Bank of Canada FI now owns 2,697,265 shares of the utilities provider’s stock valued at $69,226,000 after buying an additional 207,985 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Brookfield Renewable Partners by 20.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,791,832 shares of the utilities provider’s stock valued at $46,211,000 after buying an additional 301,229 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BEP shares. National Bank Financial increased their target price on Brookfield Renewable Partners from $34.00 to $36.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. Scotiabank reiterated an “outperform” rating and set a $42.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Friday, March 27th. Wall Street Zen cut Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. Finally, TD Securities reiterated a “buy” rating and set a $39.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average target price of $37.71.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $36.95 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. Brookfield Renewable Partners L.P. has a one year low of $23.67 and a one year high of $37.76. The company’s 50-day simple moving average is $33.97 and its 200-day simple moving average is $30.84. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of -119.20 and a beta of 1.09.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Equities analysts anticipate that Brookfield Renewable Partners L.P. will post -1.53 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be paid a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 annualized dividend and a yield of 4.2%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -506.45%.

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.