Ervin Investment Management LLC Reduces Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Ervin Investment Management LLC trimmed its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 62.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,200 shares of the utilities provider's stock after selling 28,964 shares during the period. Ervin Investment Management LLC's holdings in Brookfield Renewable Partners were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BEP. GAMMA Investing LLC increased its stake in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Brookfield Renewable Partners in the 3rd quarter valued at approximately $28,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at $178,000. Barclays PLC grew its position in Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider's stock worth $199,000 after acquiring an additional 2,036 shares during the last quarter. Finally, Creative Planning acquired a new position in shares of Brookfield Renewable Partners in the third quarter valued at approximately $206,000. Institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Down 1.4 %

BEP traded down $0.29 during trading on Monday, hitting $20.64. 1,121,749 shares of the company's stock were exchanged, compared to its average volume of 414,074. The stock has a market cap of $5.88 billion, a P/E ratio of -25.17 and a beta of 0.95. The business's 50 day moving average is $23.91 and its two-hundred day moving average is $25.06. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. 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 (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the prior year, the firm posted ($0.14) earnings per share. As a group, equities analysts expect that Brookfield Renewable Partners L.P. will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Friday, November 29th. Brookfield Renewable Partners's payout ratio is -173.17%.

Analyst Ratings Changes

Several brokerages recently weighed in on BEP. CIBC boosted their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, January 9th. StockNews.com downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a "neutral" rating to an "overweight" rating and set a $30.00 target price on the stock in a report on Thursday, December 12th. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. Finally, National Bankshares reduced their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.44.

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.