Franklin Resources Inc. Sells 44,886 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Franklin Resources Inc. lessened its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 54.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,676 shares of the utilities provider's stock after selling 44,886 shares during the quarter. Franklin Resources Inc.'s holdings in Brookfield Renewable Partners were worth $984,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Intact Investment Management Inc. bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth about $42,331,000. MAI Capital Management boosted its position in Brookfield Renewable Partners by 294.2% during 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 increased its position in shares of Brookfield Renewable Partners by 145.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider's stock worth $13,153,000 after purchasing an additional 276,374 shares during the last quarter. TD Asset Management Inc increased its holdings in Brookfield Renewable Partners by 2.9% during the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider's stock worth $58,805,000 after buying an additional 67,777 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Brookfield Renewable Partners by 2.6% in the 3rd quarter. National Bank of Canada FI now owns 1,040,674 shares of the utilities provider's stock valued at $29,326,000 after purchasing an additional 25,916 shares during the period. Institutional investors own 63.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BEP. National Bankshares lowered their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an "outperform" rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC boosted their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an "outperformer" rating in a report on Tuesday, October 22nd. StockNews.com cut Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a "neutral" rating to an "overweight" rating and set a $30.00 price target on the stock in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.78.

Brookfield Renewable Partners Trading Down 0.3 %

Shares of BEP stock traded down $0.06 during trading hours on Friday, hitting $23.06. 276,380 shares of the company's stock traded hands, compared to its average volume of 484,822. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $29.56. The stock has a market cap of $6.57 billion, a PE ratio of -28.12 and a beta of 0.93. The stock's 50 day simple moving average is $25.21 and its 200 day simple moving average is $25.36.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) 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 the consensus estimate of $843.18 million. During the same quarter last year, the firm posted ($0.14) EPS. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -0.88 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The company 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 dividend of $0.355 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 6.16%. Brookfield Renewable Partners's payout ratio is -173.17%.

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.