Lincluden Management Ltd. Sells 25,348 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Lincluden Management Ltd. decreased its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656,251 shares of the utilities provider’s stock after selling 25,348 shares during the period. Brookfield Renewable Partners comprises approximately 2.0% of Lincluden Management Ltd.’s investment portfolio, making the stock its 15th biggest holding. Lincluden Management Ltd. owned about 0.23% of Brookfield Renewable Partners worth $18,518,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BEP. GAMMA Investing LLC grew its stake in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Brookfield Renewable Partners by 0.9% during the 1st quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock worth $2,017,000 after acquiring an additional 768 shares in the last quarter. Tidal Investments LLC boosted its stake in Brookfield Renewable Partners by 2.5% in the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock valued at $866,000 after acquiring an additional 894 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Brookfield Renewable Partners by 17.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 900 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Brookfield Renewable Partners by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock worth $6,988,000 after purchasing an additional 1,333 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BEP. JPMorgan Chase & Co. dropped their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. CIBC lifted their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. National Bankshares lifted their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.78.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $25.66 on Friday. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The business’s 50 day moving average is $26.37 and its two-hundred day moving average is $25.55. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. Brookfield Renewable Partners’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. On average, equities analysts expect that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

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.