Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Fmr LLC

FMR LLC trimmed its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,396,048 shares of the utilities provider's stock after selling 669,599 shares during the quarter. FMR LLC owned 1.54% of Brookfield Renewable Partners worth $123,972,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BEP. Intact Investment Management Inc. bought a new stake in shares of Brookfield Renewable Partners in the third quarter valued at about $42,331,000. MAI Capital Management grew its stake in Brookfield Renewable Partners by 294.2% in the third quarter. MAI Capital Management now owns 86,683 shares of the utilities provider's stock valued at $2,443,000 after purchasing an additional 64,695 shares during the last quarter. Mirabella Financial Services LLP grew its stake in Brookfield Renewable Partners by 145.2% in the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider's stock valued at $13,153,000 after purchasing an additional 276,374 shares during the last quarter. TD Asset Management Inc grew its stake in Brookfield Renewable Partners by 2.9% in the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider's stock valued at $58,805,000 after purchasing an additional 67,777 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its stake in Brookfield Renewable Partners by 105.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 334,822 shares of the utilities provider's stock valued at $9,435,000 after purchasing an additional 172,028 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BEP has been the topic of several analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. CIBC lifted their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an "outperformer" rating in a research note on Tuesday, October 22nd. UBS Group upgraded Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and lifted their target price for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners presently has a consensus rating of "Moderate Buy" and an average price target of $31.78.

Brookfield Renewable Partners Stock Performance

NYSE:BEP traded down $0.61 during trading hours on Thursday, reaching $24.54. The company had a trading volume of 510,386 shares, compared to its average volume of 482,344. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $29.56. The firm has a market cap of $7.00 billion, a PE ratio of -29.93 and a beta of 0.93. The business's 50 day moving average price is $26.39 and its 200-day moving average price is $25.84. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. Research analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners's payout ratio is presently -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.