Intact Investment Management Inc. Reduces Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Intact Investment Management Inc. trimmed its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 27.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 938,767 shares of the utilities provider's stock after selling 356,540 shares during the quarter. Intact Investment Management Inc. owned about 0.33% of Brookfield Renewable Partners worth $20,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BEP. Promus Capital LLC bought a new position in Brookfield Renewable Partners in the 4th quarter valued at approximately $37,000. NBC Securities Inc. purchased a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at about $42,000. Jones Financial Companies Lllp raised its holdings in shares of Brookfield Renewable Partners by 26.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 537 shares during the last quarter. Allworth Financial LP purchased a new stake in Brookfield Renewable Partners in the fourth quarter worth approximately $68,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Brookfield Renewable Partners by 81.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,099 shares of the utilities provider's stock valued at $71,000 after buying an additional 1,391 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Stock Up 1.4%

Shares of NYSE:BEP traded up $0.36 during trading hours on Tuesday, hitting $25.57. The company's stock had a trading volume of 644,653 shares, compared to its average volume of 575,657. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.51 and a quick ratio of 0.51. The firm's fifty day moving average price is $23.73 and its 200 day moving average price is $22.86. 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 market capitalization of $7.25 billion, a price-to-earnings ratio of -25.31 and a beta of 0.98.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.15% and a negative net margin of 0.79%. The firm had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.73 billion. As a group, research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a $0.373 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.84%. Brookfield Renewable Partners's payout ratio is -147.52%.

Analyst Upgrades and Downgrades

BEP has been the subject of a number of research reports. Wall Street Zen cut Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. CIBC decreased their price objective on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th. Barclays assumed coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.13.

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.