1832 Asset Management L.P. Has $117.65 Million 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. trimmed its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 39.5% during the first quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its position in Brookfield Renewable Partners by 1.3% in the 4th quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider's stock worth $375,248,000 after buying an additional 211,467 shares during the period. Principal Financial Group Inc. increased its position in Brookfield Renewable Partners by 6.3% in the 1st quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider's stock worth $184,904,000 after buying an additional 492,199 shares during the period. TD Asset Management Inc increased its position in Brookfield Renewable Partners by 30.1% in the 1st quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider's stock worth $65,866,000 after buying an additional 689,196 shares during the period. CCLA Investment Management increased its position in Brookfield Renewable Partners by 1.3% in the 1st quarter. CCLA Investment Management now owns 2,661,405 shares of the utilities provider's stock worth $58,923,000 after buying an additional 33,433 shares during the period. Finally, National Bank of Canada FI increased its position in Brookfield Renewable Partners by 17.1% in the 1st quarter. National Bank of Canada FI now owns 2,466,957 shares of the utilities provider's stock worth $54,395,000 after buying an additional 360,693 shares during the period. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP traded up $0.6520 during trading on Friday, hitting $25.4220. 388,116 shares of the stock were exchanged, compared to its average volume of 482,233. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of -26.76 and a beta of 1.05. The company's fifty day simple moving average is $25.93 and its 200-day simple moving average is $23.97. 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 for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%.The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Sell-side analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

BEP has been the topic of several recent analyst reports. Scotiabank lifted their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 18th. Wells Fargo & Company dropped their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Raymond James Financial downgraded Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. CIBC lifted their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research report on Monday, July 21st. Finally, National Bankshares lifted their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $30.11.

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.