Kayne Anderson Capital Advisors LP Trims Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Kayne Anderson Capital Advisors LP reduced its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 289,836 shares of the utilities provider's stock after selling 44,986 shares during the quarter. Kayne Anderson Capital Advisors LP owned approximately 0.10% of Brookfield Renewable Partners worth $6,605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BEP. Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners in the third quarter worth about $28,000. Promus Capital LLC purchased a new stake in shares of Brookfield Renewable Partners in the fourth quarter worth $37,000. Jones Financial Companies Lllp raised its position in shares of Brookfield Renewable Partners by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 537 shares during the period. Allworth Financial LP bought a new stake in Brookfield Renewable Partners during the fourth quarter valued at about $68,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Brookfield Renewable Partners by 81.4% during the 4th 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 during the period. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BEP shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. StockNews.com cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th. National Bankshares cut their price objective on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. One 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. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of "Moderate Buy" and a consensus price target of $30.50.

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Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $22.85 on Wednesday. The business's 50 day moving average price is $22.13 and its 200-day moving average price is $24.38. 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 market cap of $6.52 billion, a P/E ratio of -25.67 and a beta of 1.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the firm posted $0.01 earnings per share. Sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 6.53%. This is an increase from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date is Friday, February 28th. Brookfield Renewable Partners's dividend payout ratio is presently -167.42%.

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.

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