Intact Investment Management Inc. Has $20.79 Million Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

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

Several other hedge funds have also recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its position in 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 worth $59,000 after acquiring an additional 537 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in Brookfield Renewable Partners by 3.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider's stock valued at $550,000 after acquiring an additional 724 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Brookfield Renewable Partners by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider's stock valued at $597,000 after acquiring an additional 725 shares during the last quarter. Barclays PLC increased its stake in Brookfield Renewable Partners by 13.5% in 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 last quarter. Finally, Captrust Financial Advisors increased its stake in Brookfield Renewable Partners by 4.2% in the fourth quarter. Captrust Financial Advisors now owns 25,033 shares of the utilities provider's stock valued at $570,000 after acquiring an additional 1,012 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Brookfield Renewable Partners Stock Down 1.9%

Shares of Brookfield Renewable Partners stock opened at $24.97 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $7.08 billion, a PE ratio of -24.72 and a beta of 0.98. 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 50-day simple moving average of $23.65 and a two-hundred day simple moving average of $22.88.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its quarterly 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 company had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.73 billion. On average, analysts anticipate 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 Monday, June 30th. Stockholders of record on Friday, May 30th will be paid 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 5.98%. Brookfield Renewable Partners's dividend payout ratio is presently -147.52%.

Brookfield Renewable Partners 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.

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