Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Select Equity Group L.P.

Select Equity Group L.P. cut its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 80.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 523,114 shares of the utilities provider's stock after selling 2,191,457 shares during the quarter. Select Equity Group L.P. owned about 0.18% of Brookfield Renewable Partners worth $11,922,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BEP. Barclays PLC increased its stake in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider's stock worth $199,000 after acquiring an additional 2,036 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Brookfield Renewable Partners by 442.3% in the fourth quarter. Arkadios Wealth Advisors now owns 52,399 shares of the utilities provider's stock valued at $1,194,000 after buying an additional 42,737 shares in the last quarter. Epiq Partners LLC grew its stake in shares of Brookfield Renewable Partners by 1.4% in the fourth quarter. Epiq Partners LLC now owns 105,228 shares of the utilities provider's stock valued at $2,398,000 after buying an additional 1,500 shares in the last quarter. Abel Hall LLC acquired a new stake in shares of Brookfield Renewable Partners in the fourth quarter valued at about $456,000. Finally, Cibc World Market Inc. grew its stake in shares of Brookfield Renewable Partners by 4.4% in the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider's stock valued at $62,647,000 after buying an additional 116,593 shares in the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $24.43 on Friday. The stock has a market cap of $6.93 billion, a P/E ratio of -27.45 and a beta of 0.99. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $22.45 and a 200-day moving average of $23.05. 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 released its 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 business had revenue of $907.00 million for the quarter, compared to analysts' expectations of $1.73 billion. On average, analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio is presently -147.52%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BEP. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. StockNews.com lowered Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Tuesday, February 25th. Wells Fargo & Company lowered their target price on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. lowered their target price 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. Finally, National Bankshares lowered 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and a consensus price target of $29.67.

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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