Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,843,646 shares of the utilities provider’s stock after selling 72,168 shares during the quarter. CIBC Asset Management Inc owned approximately 2.40% of Brookfield Renewable Partners worth $193,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BEP. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at approximately $42,331,000. Price T Rowe Associates Inc. MD increased its stake in Brookfield Renewable Partners by 103.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after buying an additional 595,335 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Brookfield Renewable Partners by 2,229.4% in the first quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 24,412 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Brookfield Renewable Partners by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock valued at $58,805,000 after buying an additional 67,777 shares during the period. Finally, Triasima Portfolio Management inc. purchased a new position in Brookfield Renewable Partners in the second quarter worth approximately $16,936,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

BEP has been the subject of several recent analyst reports. 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. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. National Bankshares lifted their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. CIBC increased their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. One equities 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Trading Up 0.1 %

Shares of BEP stock opened at $25.31 on Friday. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a quick ratio of 0.52, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average price is $26.58 and its 200 day moving average price is $25.89.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS 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 company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. During the same period in the prior year, the firm posted ($0.14) EPS. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Brookfield Renewable Partners Company 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.