Connor Clark & Lunn Investment Management Ltd. Acquires 324,653 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 28.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,480,927 shares of the utilities provider's stock after purchasing an additional 324,653 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.52% of Brookfield Renewable Partners worth $33,687,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Avantax Advisory Services Inc. raised its stake in shares of Brookfield Renewable Partners by 3.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider's stock valued at $550,000 after buying an additional 724 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Brookfield Renewable Partners by 12.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 246,631 shares of the utilities provider's stock valued at $5,621,000 after acquiring an additional 26,950 shares during the period. HighTower Advisors LLC lifted its holdings in Brookfield Renewable Partners by 3.6% during the 4th quarter. HighTower Advisors LLC now owns 48,554 shares of the utilities provider's stock worth $1,107,000 after purchasing an additional 1,709 shares in the last quarter. Natural Investments LLC bought a new position in shares of Brookfield Renewable Partners in the fourth quarter valued at approximately $1,147,000. Finally, AGF Management Ltd. grew its position in shares of Brookfield Renewable Partners by 3,234.7% during the 4th quarter. AGF Management Ltd. now owns 1,588,410 shares of the utilities provider's stock valued at $36,681,000 after purchasing an additional 1,540,777 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BEP shares. National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company dropped their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Scotiabank lifted their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Royal Bank of Canada restated an "outperform" rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, StockNews.com downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

Brookfield Renewable Partners Stock Down 1.7 %

BEP stock traded down $0.40 on Thursday, reaching $22.80. 330,063 shares of the company traded hands, compared to its average volume of 825,676. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The firm has a fifty day simple moving average of $22.13 and a 200-day simple moving average of $24.36. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56. The company has a market cap of $6.50 billion, a P/E ratio of -25.62 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.36. Brookfield Renewable Partners's dividend payout ratio is currently -167.42%.

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.