First Trust Advisors LP Lowers Stock Position in Brookfield Renewable Partners L.P. $BEP

Key Points

• First Trust Advisors LP reduced its Brookfield Renewable Partners position by 7.1% in the first quarter, selling 49,735 shares and retaining 646,519 shares valued at approximately $21.1 million. Institutional investors collectively own 63.16% of BEP.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $37.93, despite ratings ranging from “Strong Sell” to “Buy.”
• BEP shares opened at $31.60, while the partnership reported quarterly revenue of $1.51 billion but missed earnings expectations. It paid a quarterly dividend of $0.392, equivalent to a 5.0% annualized yield.

First Trust Advisors LP trimmed its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 646,519 shares of the utilities provider's stock after selling 49,735 shares during the period. First Trust Advisors LP owned approximately 0.21% of Brookfield Renewable Partners worth $21,102,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BEP. Kelleher Financial Advisors acquired a new position in Brookfield Renewable Partners in the third quarter valued at $26,000. Russell Investments Group Ltd. acquired a new stake in Brookfield Renewable Partners during the second quarter worth about $34,000. CENTRAL TRUST Co purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter worth about $55,000. Triumph Capital Management acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $55,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Brookfield Renewable Partners by 284.5% in the 4th quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 1,633 shares in the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on BEP shares. Zacks Research lowered shares of Brookfield Renewable Partners from a "hold" rating to a "strong sell" rating in a report on Friday, July 3rd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $36.00 target price on shares of Brookfield Renewable Partners in a research note on Tuesday, July 21st. TD upped their price target on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $41.00 price objective on shares of Brookfield Renewable Partners in a research report on Friday, July 17th. Finally, Barclays set a $30.00 target price on Brookfield Renewable Partners and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.93.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $31.60 on Thursday. The firm's 50 day moving average is $34.44 and its 200-day moving average is $32.66. The stock has a market capitalization of $9.48 billion, a P/E ratio of -101.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. Brookfield Renewable Partners L.P. has a 12-month low of $24.13 and a 12-month high of $38.12.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings data on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. Equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.55 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Friday, May 29th. Brookfield Renewable Partners's payout ratio is presently -506.45%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.

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