Connor Clark & Lunn Investment Management Ltd. Has $7.86 Million Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Brookfield Renewable Partners L.P. by 76.0%, now owning 354,900 shares after selling over a million shares in the 1st quarter.
• Brookfield Renewable Partners announced a quarterly dividend of $0.373 per share, representing a dividend yield of 6.0%.
• Analysts have mixed views on Brookfield Renewable Partners, with a consensus rating of "Moderate Buy" and an average price target of $30.11.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 76.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 354,900 shares of the utilities provider's stock after selling 1,126,027 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of Brookfield Renewable Partners worth $7,859,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BEP. Royal Bank of Canada lifted its stake in shares of Brookfield Renewable Partners by 1.3% during the 4th 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. Principal Financial Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 6.3% during the 1st quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider's stock worth $184,904,000 after purchasing an additional 492,199 shares during the period. TD Asset Management Inc lifted its stake in shares of Brookfield Renewable Partners by 30.1% during the 1st quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider's stock worth $65,866,000 after purchasing an additional 689,196 shares during the period. CCLA Investment Management lifted its stake in shares of Brookfield Renewable Partners by 1.3% during the 1st quarter. CCLA Investment Management now owns 2,661,405 shares of the utilities provider's stock worth $58,923,000 after purchasing an additional 33,433 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Brookfield Renewable Partners by 17.1% during 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 purchasing an additional 360,693 shares during the period. Hedge funds and other institutional investors own 63.16% of the company's stock.

Analysts Set New Price Targets

BEP has been the subject of a number of research analyst reports. Raymond James Financial downgraded Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Wells Fargo & Company cut 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 report on Monday, May 5th. National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. CIBC raised their price objective on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an "outperformer" rating in a research note on Monday, July 21st. Finally, National Bankshares lifted their price target on shares of 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 research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.11.

Brookfield Renewable Partners Price Performance

NYSE BEP traded up $0.27 on Friday, reaching $24.59. The company's stock had a trading volume of 683,149 shares, compared to its average volume of 434,059. The firm has a market cap of $6.98 billion, a PE ratio of -25.88 and a beta of 1.05. The business has a 50-day moving average price of $26.04 and a 200 day moving average price of $23.82. 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 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) EPS for the quarter, missing analysts' consensus estimates 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 net margin of 2.28% and a return on equity of 0.44%. Sell-side analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Friday, August 29th. Brookfield Renewable Partners's dividend payout ratio is presently -156.84%.

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.