Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC cut its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,348,049 shares of the utilities provider's stock after selling 58,123 shares during the period. Brookfield Renewable Partners makes up 1.4% of Lake Street Advisors Group LLC's holdings, making the stock its 18th largest position. Lake Street Advisors Group LLC owned approximately 0.47% of Brookfield Renewable Partners worth $30,722,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $28,000. Allworth Financial LP purchased a new stake in shares of Brookfield Renewable Partners in the fourth quarter worth about $68,000. Waverton Investment Management Ltd purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $178,000. Barclays PLC boosted its stake in shares of Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider's stock worth $199,000 after buying an additional 2,036 shares during the last quarter. Finally, Creative Planning purchased a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $206,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP traded down $0.34 during midday trading on Friday, hitting $22.51. The stock had a trading volume of 589,248 shares, compared to its average volume of 864,168. Brookfield Renewable Partners L.P. has a 1 year low of $19.92 and a 1 year high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $6.42 billion, a PE ratio of -25.29 and a beta of 0.95. The stock has a 50 day simple moving average of $22.24 and a 200-day simple moving average of $24.47.

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

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 6.63%. The ex-dividend date is Friday, February 28th. This is a boost from Brookfield Renewable Partners's previous quarterly dividend of $0.36. Brookfield Renewable Partners's dividend payout ratio (DPR) is currently -167.42%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BEP shares. Royal Bank of Canada reiterated an "outperform" rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. StockNews.com downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday. Scotiabank increased their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price target 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners currently has a consensus rating of "Moderate Buy" and an average price target 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.