Bank of America Corp DE Grows Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Bank of America Corp DE increased its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 698,025 shares of the utilities provider's stock after acquiring an additional 75,083 shares during the quarter. Bank of America Corp DE owned about 0.24% of Brookfield Renewable Partners worth $15,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in Brookfield Renewable Partners by 20.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,616,911 shares of the utilities provider's stock valued at $36,849,000 after buying an additional 275,612 shares during the period. Anson Funds Management LP purchased a new position in Brookfield Renewable Partners during the fourth quarter valued at $938,000. Nexpoint Asset Management L.P. lifted its position in Brookfield Renewable Partners by 16.9% during the fourth quarter. Nexpoint Asset Management L.P. now owns 53,106 shares of the utilities provider's stock valued at $1,210,000 after buying an additional 7,666 shares during the period. Jane Street Group LLC lifted its position in Brookfield Renewable Partners by 69.7% during the fourth quarter. Jane Street Group LLC now owns 45,271 shares of the utilities provider's stock valued at $1,032,000 after buying an additional 18,593 shares during the period. Finally, Guardian Capital LP lifted its position in Brookfield Renewable Partners by 12.2% during the fourth quarter. Guardian Capital LP now owns 468,295 shares of the utilities provider's stock valued at $10,661,000 after buying an additional 50,945 shares during the period. Hedge funds and other institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Up 2.9%

Shares of BEP traded up $0.65 during midday trading on Monday, reaching $23.52. 346,179 shares of the stock were exchanged, compared to its average volume of 562,748. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $29.56. 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 company's 50 day moving average is $22.55 and its two-hundred day moving average is $22.92. The company has a market capitalization of $6.68 billion, a P/E ratio of -26.43 and a beta of 0.99.

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

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -147.52%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays assumed coverage on Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price target for the company. Scotiabank lifted their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. CIBC reduced their price objective on Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating for the company in a report on Monday, May 5th. Finally, Wall Street Zen downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $29.67.

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.