1832 Asset Management L.P. Reduces Stake in Brookfield Renewable Partners L.P. $BEP

Key Points

• 1832 Asset Management L.P. reduced its stake in Brookfield Renewable Partners L.P. by 39.5%, now holding approximately 5.3 million shares valued at about $117.6 million.
• The company reported a net margin of 2.28% and a revenue of $1.69 billion for the quarter, missing EPS estimates by $0.03.
• Brookfield Renewable Partners announced a quarterly dividend of $0.373, reflecting an annual yield of 6.0%, with the ex-dividend date set for August 29th.

1832 Asset Management L.P. lowered its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 39.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,308,925 shares of the utilities provider's stock after selling 3,465,076 shares during the period. 1832 Asset Management L.P. owned 1.87% of Brookfield Renewable Partners worth $117,646,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. purchased a new position in shares of Brookfield Renewable Partners in the first quarter valued at approximately $583,000. Cambridge Investment Research Advisors Inc. increased its position in Brookfield Renewable Partners by 16.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider's stock worth $574,000 after purchasing an additional 3,722 shares during the last quarter. Jane Street Group LLC boosted its stake in Brookfield Renewable Partners by 69.7% during the 4th quarter. Jane Street Group LLC now owns 45,271 shares of the utilities provider's stock valued at $1,032,000 after purchasing an additional 18,593 shares during the period. Brown Advisory Inc. acquired a new stake in Brookfield Renewable Partners during the 1st quarter valued at $1,019,000. Finally, Royal Bank of Canada grew its stake in shares of Brookfield Renewable Partners by 1.3% during the fourth quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider's stock worth $375,248,000 after purchasing an additional 211,467 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank boosted their target price on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 18th. Raymond James Financial downgraded shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. CIBC boosted their price target on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research report on Monday, July 21st. National Bankshares upped their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Brookfield Renewable Partners has a consensus rating of "Buy" and an average target price of $30.11.

Brookfield Renewable Partners Stock Up 0.1%

Shares of NYSE BEP traded up $0.04 during mid-day trading on Wednesday, reaching $25.50. The company had a trading volume of 95,454 shares, compared to its average volume of 628,269. The stock has a fifty day moving average of $25.90 and a two-hundred day moving average of $24.00. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $29.56. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of -26.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.44 and a current ratio of 0.44.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. As a group, equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is currently -156.84%.

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.