Brookfield Renewable Partners L.P. $BEP Shares Sold by First Manhattan CO. LLC.

Key Points

• First Manhattan CO. LLC reduced its stake in Brookfield Renewable Partners L.P. by 7.2%, now holding approximately $10.68 million worth of shares.
• Brookfield Renewable Partners reported a quarterly loss of ($0.22) earnings per share, falling short of analyst expectations, while revenue reached $1.69 billion.
• The company announced a quarterly dividend of $0.373 per share, yielding approximately 5.9%, with a payout ratio of -156.84%.

First Manhattan CO. LLC. decreased its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 481,978 shares of the utilities provider's stock after selling 37,498 shares during the period. First Manhattan CO. LLC. owned about 0.17% of Brookfield Renewable Partners worth $10,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of BEP. Golden State Wealth Management LLC grew its stake in shares of Brookfield Renewable Partners by 103.6% in the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock worth $25,000 after acquiring an additional 579 shares in the last quarter. Rossby Financial LCC acquired a new position in shares of Brookfield Renewable Partners in the first quarter worth $41,000. NBC Securities Inc. acquired a new position in shares of Brookfield Renewable Partners in the first quarter worth $42,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Brookfield Renewable Partners by 136.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider's stock worth $60,000 after acquiring an additional 1,576 shares in the last quarter. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Brookfield Renewable Partners in the first quarter worth $69,000. Institutional investors and hedge funds own 63.16% of the company's stock.

Analysts Set New Price Targets

BEP has been the subject of several research reports. Scotiabank boosted their price target on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 18th. National Bank Financial upgraded shares of Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Finally, CIBC boosted their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $30.11.

Brookfield Renewable Partners Stock Performance

BEP traded down $0.15 on Friday, reaching $24.82. The company had a trading volume of 220,578 shares, compared to its average volume of 451,717. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $29.56. The stock has a market capitalization of $7.04 billion, a PE ratio of -26.12 and a beta of 1.04. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.97. The stock has a 50-day moving average price of $25.86 and a 200-day moving average price of $24.16.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. The company had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.64 billion. As a group, research analysts forecast 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 given a $0.373 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a yield of 6.0%. Brookfield Renewable Partners's payout ratio is -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.