Connor Clark & Lunn Investment Management Ltd. Has $32.60 Million Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 58.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,156,274 shares of the utilities provider's stock after selling 1,633,304 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of Brookfield Renewable Partners worth $32,604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock worth $27,000 after acquiring an additional 442 shares during the last quarter. Clear Point Advisors Inc. bought a new position in Brookfield Renewable Partners during the 1st quarter worth $49,000. Evermay Wealth Management LLC acquired a new stake in Brookfield Renewable Partners in the first quarter worth $49,000. Waverton Investment Management Ltd bought a new stake in Brookfield Renewable Partners in the third quarter valued at $178,000. Finally, Creative Planning acquired a new position in shares of Brookfield Renewable Partners during the third quarter valued at $206,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 1.3 %

Shares of BEP stock traded down $0.34 on Wednesday, reaching $24.98. 794,585 shares of the company's stock traded hands, compared to its average volume of 478,458. The business's 50 day moving average price is $26.63 and its two-hundred day moving average price is $25.97. The company has a market capitalization of $7.12 billion, a P/E ratio of -30.46 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month 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) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $843.18 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share. On average, equities analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

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 given a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.68%. Brookfield Renewable Partners's payout ratio is currently -173.17%.

Wall Street Analysts Forecast Growth

BEP has been the topic of a number of analyst reports. 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 report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, October 17th. UBS Group upgraded shares of Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $31.78.

Brookfield Renewable Partners 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.