Federation des caisses Desjardins du Quebec Sells 45,971 Shares of Brookfield Renewable Partners L.P. $BEP

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Brookfield Renewable Partners L.P. by 9.0%, now holding approximately 463,671 shares valued at around $10.25 million.
• Brookfield Renewable Partners announced a quarterly dividend of $0.373 per share, with a dividend yield of 6.1% and an ex-dividend date on August 29.
• Wall Street analysts have mostly rated Brookfield Renewable Partners as a Buy or Outperform, with a consensus price target of $30.11.

Federation des caisses Desjardins du Quebec lowered its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,671 shares of the utilities provider's stock after selling 45,971 shares during the period. Federation des caisses Desjardins du Quebec owned about 0.16% of Brookfield Renewable Partners worth $10,246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in shares of Brookfield Renewable Partners by 103.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 579 shares during the last quarter. Rossby Financial LCC bought a new stake in Brookfield Renewable Partners in the 1st quarter valued at $41,000. NBC Securities Inc. bought a new stake in Brookfield Renewable Partners in the 1st quarter valued at $42,000. Northwestern Mutual Wealth Management Co. increased its position in Brookfield Renewable Partners by 136.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider's stock worth $60,000 after buying an additional 1,576 shares during the period. Finally, Trifecta Capital Advisors LLC bought a new position in Brookfield Renewable Partners during the 1st quarter worth $69,000. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Up 0.7%

Brookfield Renewable Partners stock traded up $0.17 during mid-day trading on Tuesday, reaching $25.19. The stock had a trading volume of 120,425 shares, compared to its average volume of 617,132. The firm has a market capitalization of $7.15 billion, a PE ratio of -26.47 and a beta of 1.04. 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 L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The stock's 50-day simple moving average is $25.85 and its 200-day simple moving average is $24.17.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its earnings results 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 for the quarter, compared to analysts' expectations of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. On average, sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be given 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%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. National Bankshares increased their price objective 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. National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. Scotiabank raised their price objective on Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 18th. Raymond James Financial lowered Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $30.11.

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.