Nicola Wealth Management LTD. Sells 4,000 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Nicola Wealth Management LTD. trimmed its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 144,000 shares of the utilities provider’s stock after selling 4,000 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Brookfield Renewable Partners were worth $4,062,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after buying an additional 442 shares during the last quarter. Clear Point Advisors Inc. purchased a new position in Brookfield Renewable Partners during the first quarter valued at approximately $49,000. Evermay Wealth Management LLC purchased a new position in Brookfield Renewable Partners during the first quarter valued at approximately $49,000. Waverton Investment Management Ltd bought a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $178,000. Finally, Creative Planning bought a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $206,000. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock traded up $0.07 during mid-day trading on Thursday, hitting $25.36. The company had a trading volume of 91,079 shares, compared to its average volume of 475,817. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -30.84 and a beta of 0.95. The company has a current ratio of 0.73, a quick ratio of 0.52 and a debt-to-equity ratio of 0.93. The company’s fifty day moving average is $26.58 and its 200-day moving average is $25.89.

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

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.17%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BEP. JPMorgan Chase & Co. lowered 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 report on Thursday, October 17th. National Bankshares upped their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Finally, CIBC increased 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Brookfield Renewable Partners has an average rating of “Moderate Buy” and a consensus target price of $31.78.

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.