First Trust Advisors LP Has $21.10 Million Stake in Brookfield Renewable Partners L.P. $BEP

First Trust Advisors LP reduced its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 7.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 646,519 shares of the utilities provider’s stock after selling 49,735 shares during the period. First Trust Advisors LP’s holdings in Brookfield Renewable Partners were worth $21,102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BEP. Kelleher Financial Advisors bought a new position in Brookfield Renewable Partners during the third quarter worth about $26,000. Russell Investments Group Ltd. bought a new stake in shares of Brookfield Renewable Partners in the 2nd quarter valued at approximately $34,000. CENTRAL TRUST Co acquired a new position in shares of Brookfield Renewable Partners in the 1st quarter worth approximately $55,000. Triumph Capital Management acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $55,000. Finally, Global Retirement Partners LLC lifted its position in shares of Brookfield Renewable Partners by 284.5% during the 4th quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after buying an additional 1,633 shares during the period. Institutional investors own 63.16% of the company’s stock.

Analyst Ratings Changes

BEP has been the topic of several recent analyst reports. National Bank Financial boosted their price target on Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $41.00 price objective on shares of Brookfield Renewable Partners in a report on Friday, July 17th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $36.00 price objective on shares of Brookfield Renewable Partners in a report on Tuesday, July 21st. Zacks Research downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Finally, Barclays set a $30.00 target price on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.93.

Brookfield Renewable Partners Stock Down 1.2%

Shares of BEP opened at $31.60 on Thursday. The company has a market capitalization of $9.48 billion, a P/E ratio of -101.93 and a beta of 1.10. Brookfield Renewable Partners L.P. has a one year low of $24.13 and a one year high of $38.12. The business’s 50 day simple moving average is $34.44 and its 200-day simple moving average is $32.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. As a group, sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.55 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.392 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.0%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -506.45%.

About Brookfield Renewable Partners

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.