Nicola Wealth Management LTD. Sells 15,000 Shares of Brookfield Renewable Partners L.P. $BEP

Key Points

• Nicola Wealth Management LTD. reduced its stake in Brookfield Renewable Partners L.P. by 11.1%, owning 120,000 shares after selling 15,000 shares in Q1, valued at $2,658,000.
• The company announced a quarterly dividend of $0.373 per share, with a yield of 6.0%, despite a negative dividend payout ratio of -156.84%.
• Brookfield Renewable Partners reported a quarterly loss of ($0.22) per share, missing estimates, while achieving revenues of $1.69 billion, above the forecast of $1.64 billion.

Nicola Wealth Management LTD. decreased its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 11.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 120,000 shares of the utilities provider's stock after selling 15,000 shares during the period. Nicola Wealth Management LTD.'s holdings in Brookfield Renewable Partners were worth $2,658,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Brookfield Renewable Partners by 2.3% during the 1st quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider's stock valued at $373,164,000 after acquiring an additional 374,087 shares during the last quarter. Principal Financial Group Inc. boosted its stake in 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 valued at $184,904,000 after purchasing an additional 492,199 shares during the period. TD Asset Management Inc boosted its stake in 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 valued at $65,866,000 after purchasing an additional 689,196 shares during the period. CCLA Investment Management lifted its position in shares of Brookfield Renewable Partners by 1.3% in the 1st quarter. CCLA Investment Management now owns 2,661,405 shares of the utilities provider's stock worth $58,923,000 after acquiring an additional 33,433 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Brookfield Renewable Partners by 17.1% in 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 acquiring an additional 360,693 shares during the period. Institutional investors and hedge funds own 63.16% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Scotiabank raised their price objective on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 18th. National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. National Bankshares raised their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. reduced their price target on Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Finally, Raymond James Financial lowered Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $30.11.

Brookfield Renewable Partners Trading Down 0.6%

BEP stock traded down $0.15 during midday trading on Tuesday, hitting $25.65. 260,601 shares of the company's stock were exchanged, compared to its average volume of 610,815. The stock's fifty day moving average price is $25.76 and its 200-day moving average price is $24.25. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market cap of $7.28 billion, a PE ratio of -27.00 and a beta of 1.04. Brookfield Renewable Partners L.P. has a one year low of $19.29 and a one year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%. Research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, August 29th. 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.