Intact Investment Management Inc. Sells 205,650 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Intact Investment Management Inc. cut its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,295,307 shares of the utilities provider's stock after selling 205,650 shares during the quarter. Brookfield Renewable Partners makes up approximately 1.0% of Intact Investment Management Inc.'s portfolio, making the stock its 24th largest holding. Intact Investment Management Inc. owned 0.45% of Brookfield Renewable Partners worth $29,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BEP. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $28,000. Promus Capital LLC purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth $37,000. Jones Financial Companies Lllp lifted its position in shares of Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock worth $59,000 after acquiring an additional 537 shares in the last quarter. Allworth Financial LP bought a new position in shares of Brookfield Renewable Partners in the fourth quarter worth $68,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Brookfield Renewable Partners by 81.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock valued at $71,000 after purchasing an additional 1,391 shares in the last quarter. Institutional investors own 63.16% of the company's stock.

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Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP traded up $0.29 during midday trading on Tuesday, hitting $23.18. 359,804 shares of the stock traded hands, compared to its average volume of 555,893. The firm has a market capitalization of $6.60 billion, a P/E ratio of -26.04 and a beta of 1.02. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The firm has a 50-day moving average of $22.11 and a two-hundred day moving average of $24.32.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter in the previous year, the company earned $0.01 earnings per share. On average, equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.373 per share. This represents a $1.49 annualized dividend and a yield of 6.44%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.36. Brookfield Renewable Partners's dividend payout ratio (DPR) is -167.42%.

Analyst Ratings Changes

BEP has been the subject of several analyst reports. National Bankshares cut their target price on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. CIBC cut their price objective on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating for the company in a research report on Monday, February 3rd. Scotiabank upped their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Wells Fargo & Company cut their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.50.

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.