Nicola Wealth Management LTD. Has $2.66 Million Stock Holdings in 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. lowered its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 11.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,000 shares of the utilities provider's stock after selling 15,000 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Brookfield Renewable Partners were worth $2,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BEP. SOA Wealth Advisors LLC. acquired a new position in shares of Brookfield Renewable Partners in the 1st quarter worth approximately $583,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Brookfield Renewable Partners by 16.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider's stock valued at $574,000 after buying an additional 3,722 shares in the last quarter. Royal Bank of Canada lifted its position 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. Jane Street Group LLC boosted its stake in shares of Brookfield Renewable Partners by 69.7% during the 4th quarter. Jane Street Group LLC now owns 45,271 shares of the utilities provider's stock worth $1,032,000 after acquiring an additional 18,593 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Brookfield Renewable Partners by 18.1% in the 1st quarter. Raymond James Financial Inc. now owns 135,895 shares of the utilities provider's stock worth $3,011,000 after acquiring an additional 20,799 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. CIBC raised their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. Raymond James Financial cut shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Scotiabank raised their target price 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. Finally, National Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a report on Sunday, June 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of "Buy" and a consensus target price of $30.11.

Brookfield Renewable Partners Price Performance

BEP stock traded down $0.14 during trading on Wednesday, hitting $25.49. The company had a trading volume of 72,294 shares, compared to its average volume of 608,419. The company has a fifty day moving average price of $25.75 and a two-hundred day moving average price of $24.26. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The company has a market cap of $7.23 billion, a P/E ratio of -26.83 and a beta of 1.04. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.64 billion. Equities research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.49 annualized dividend and a dividend yield of 5.9%. Brookfield Renewable Partners's dividend payout ratio (DPR) is presently -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.