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

CIBC Asset Management Inc grew its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,472,170 shares of the utilities provider's stock after purchasing an additional 1,628,524 shares during the quarter. CIBC Asset Management Inc owned 2.97% of Brookfield Renewable Partners worth $192,605,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp lifted its stake in shares of Brookfield Renewable Partners by 1.3% in the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider's stock worth $880,000 after acquiring an additional 403 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Brookfield Renewable Partners by 1.6% in the third quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider's stock worth $1,321,000 after acquiring an additional 749 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Brookfield Renewable Partners by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider's stock worth $394,000 after acquiring an additional 945 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Brookfield Renewable Partners in the third quarter worth about $28,000. Finally, Epiq Partners LLC lifted its stake in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. Epiq Partners LLC now owns 105,228 shares of the utilities provider's stock worth $2,398,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

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Analyst Ratings Changes

BEP has been the topic of several recent analyst reports. Scotiabank boosted their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. CIBC lowered their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reissued 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 lowered Brookfield Renewable Partners from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $30.50.

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP traded up $0.30 during trading on Thursday, hitting $23.57. 526,552 shares of the company traded hands, compared to its average volume of 908,492. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of -26.48 and a beta of 0.95. The business's fifty day moving average is $22.27 and its 200-day moving average is $24.53. 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 quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS 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 last year, the firm earned $0.01 earnings per share. As a group, equities analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 6.33%. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable Partners's dividend payout ratio is -159.55%.

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.