Natural Investments LLC Sells 12,183 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• Natural Investments LLC reduced its stake in Brookfield Renewable Partners by 24.2%, now owning 38,189 shares valued at approximately $846,000.
• Major institutional investors, such as TD Asset Management and Bank of Nova Scotia, have increased their positions in Brookfield by over 30% in the first quarter, indicating strong interest in the company.
• Brookfield Renewable Partners reported a quarterly EPS of ($0.22), missing analyst expectations, but had a revenue of $1.69 billion, surpassing consensus estimates.

Natural Investments LLC lessened its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 24.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 38,189 shares of the utilities provider's stock after selling 12,183 shares during the period. Natural Investments LLC's holdings in Brookfield Renewable Partners were worth $846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its position in 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 worth $25,000 after purchasing an additional 579 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $41,000. NBC Securities Inc. acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $42,000. Trifecta Capital Advisors LLC bought a new stake in shares of Brookfield Renewable Partners during the first quarter worth $69,000. Finally, Barclays PLC lifted its stake in shares of Brookfield Renewable Partners by 13.5% during the fourth quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock valued at $183,000 after acquiring an additional 951 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Down 1.4%

Brookfield Renewable Partners stock traded down $0.36 during midday trading on Thursday, hitting $25.37. 350,224 shares of the stock were exchanged, compared to its average volume of 428,710. The stock has a market capitalization of $7.20 billion, a PE ratio of -26.71 and a beta of 1.05. The company has a fifty day simple moving average of $25.96 and a two-hundred day simple moving average of $23.66. The company has a quick ratio of 0.51, a current ratio of 0.44 and a debt-to-equity ratio of 0.97. 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 posted its earnings results 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). The firm 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%. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. The ex-dividend date 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%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BEP shares. CIBC raised their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a report on Monday, July 21st. Wells Fargo & Company reduced their target price on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. 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. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Finally, National Bankshares lifted their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and an average target price of $30.11.

Brookfield Renewable Partners Company 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.