Russell Investments Group Ltd. Decreases Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Russell Investments Group Ltd. cut its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 97.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,366 shares of the utilities provider's stock after selling 140,887 shares during the quarter. Russell Investments Group Ltd.'s holdings in Brookfield Renewable Partners were worth $77,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BEP. Wilmington Savings Fund Society FSB purchased a new stake in Brookfield Renewable Partners in the third quarter worth $28,000. Promus Capital LLC purchased a new stake in shares of Brookfield Renewable Partners in the 4th quarter worth about $37,000. Jones Financial Companies Lllp increased 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 valued at $59,000 after buying an additional 537 shares during the period. Allworth Financial LP purchased a new position in shares of Brookfield Renewable Partners during the 4th quarter worth approximately $68,000. Finally, Steward Partners Investment Advisory LLC grew its stake 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 worth $71,000 after acquiring an additional 1,391 shares during the last quarter. Institutional investors own 63.16% of the company's stock.

Analysts Set New Price Targets

BEP has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective 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. CIBC reduced their target price on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating for the company in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Scotiabank lifted their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, Barclays began coverage on shares of Brookfield Renewable Partners in a report on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Brookfield Renewable Partners currently has an average rating of "Moderate Buy" and an average price target of $30.00.

Brookfield Renewable Partners Price Performance

NYSE BEP traded up $0.30 during trading hours on Thursday, reaching $23.34. The company's stock had a trading volume of 97,010 shares, compared to its average volume of 571,952. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The company's 50-day moving average is $22.29 and its two-hundred day moving average is $23.40. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of -26.21 and a beta of 0.99. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56.

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) earnings per share 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 quarter last year, the firm earned $0.01 earnings per share. On average, equities analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.373 per share. This is a positive change from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date was Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 6.39%. Brookfield Renewable Partners's dividend payout ratio is presently -167.42%.

Brookfield Renewable Partners 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.