CIBC Asset Management Inc Sells 72,168 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

CIBC Asset Management Inc lessened its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 1.0% during the third quarter, according to the company in its most recent 13F filing with the 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 filing with the SEC.

A number of other institutional investors have also made changes to their positions in BEP. BNP Paribas Financial Markets increased its position in shares of Brookfield Renewable Partners by 2,229.4% during the 1st quarter. BNP Paribas Financial Markets now owns 25,507 shares of the utilities provider's stock worth $593,000 after purchasing an additional 24,412 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Brookfield Renewable Partners by 17.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 20,725 shares of the utilities provider's stock valued at $481,000 after purchasing an additional 3,048 shares during the last quarter. Clearbridge Investments LLC raised its stake in Brookfield Renewable Partners by 0.9% in the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider's stock valued at $2,017,000 after buying an additional 768 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of Brookfield Renewable Partners by 0.4% during the 1st quarter. Lake Street Advisors Group LLC now owns 1,410,941 shares of the utilities provider's stock worth $32,776,000 after acquiring an additional 5,690 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Brookfield Renewable Partners by 12.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 304,570 shares of the utilities provider's stock valued at $7,075,000 after acquiring an additional 32,830 shares during the period. Institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded down $0.01 during trading on Friday, reaching $25.30. 137,941 shares of the company's stock were exchanged, compared to its average volume of 475,958. The firm's 50-day moving average price is $26.58 and its 200 day moving average price is $25.89. The company has a market cap of $7.21 billion, a P/E ratio of -30.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.52 and a current ratio of 0.73. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings results 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). The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter in the previous year, the business posted ($0.14) earnings per share. As a group, research analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 5.61%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners's dividend payout ratio (DPR) is -173.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC upped 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. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, October 17th. Finally, UBS Group raised shares of Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $24.00 to $31.00 in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.78.

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.