First Trust Advisors LP Sells 101,846 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

First Trust Advisors LP lessened its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 905,353 shares of the utilities provider's stock after selling 101,846 shares during the quarter. First Trust Advisors LP owned about 0.32% of Brookfield Renewable Partners worth $20,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $28,000. Promus Capital LLC bought a new position in Brookfield Renewable Partners during the fourth quarter valued at about $37,000. Jones Financial Companies Lllp grew its holdings in 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 during the period. Allworth Financial LP bought a new stake in Brookfield Renewable Partners in the fourth quarter worth about $68,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Brookfield Renewable Partners by 81.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock valued at $71,000 after acquiring an additional 1,391 shares during the last quarter. Institutional investors own 63.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. CIBC lowered their price objective on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on 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. National Bankshares cut their target price on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.00.

Brookfield Renewable Partners Stock Down 0.1 %

Shares of Brookfield Renewable Partners stock traded down $0.02 during midday trading on Friday, reaching $23.18. 211,127 shares of the company's stock traded hands, compared to its average volume of 754,997. 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 company has a market cap of $6.58 billion, a price-to-earnings ratio of -26.04 and a beta of 0.99. The company's 50 day simple moving average is $22.30 and its 200 day simple moving average is $23.38. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. The company had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.73 billion. Equities analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Company Profile

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.