Montrusco Bolton Investments Inc. Reduces Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Montrusco Bolton Investments Inc. decreased its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 75.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 136,176 shares of the utilities provider’s stock after selling 412,689 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Brookfield Renewable Partners were worth $3,845,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. MAI Capital Management boosted its stake in shares of Brookfield Renewable Partners by 294.2% during the third quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock worth $2,443,000 after buying an additional 64,695 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in shares of Brookfield Renewable Partners by 105.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 334,822 shares of the utilities provider’s stock worth $9,435,000 after buying an additional 172,028 shares during the period. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $178,000. Apollon Wealth Management LLC boosted its stake in shares of Brookfield Renewable Partners by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after buying an additional 945 shares during the period. Finally, Tacita Capital Inc boosted its stake in shares of Brookfield Renewable Partners by 1.7% during the third quarter. Tacita Capital Inc now owns 114,583 shares of the utilities provider’s stock worth $3,235,000 after buying an additional 1,957 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Down 1.4 %

Shares of BEP opened at $25.17 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $26.59 and a 200-day simple moving average of $25.95. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -30.69 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. During the same period last year, the business earned ($0.14) earnings per share. Equities analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.64%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

Analyst Ratings Changes

A number of brokerages recently commented on BEP. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. CIBC raised their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $31.00 in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.78.

Brookfield Renewable Partners Profile

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.