First Manhattan CO. LLC. Sells 21,580 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

First Manhattan CO. LLC. reduced its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 519,476 shares of the utilities provider's stock after selling 21,580 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.18% of Brookfield Renewable Partners worth $11,840,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in Brookfield Renewable Partners by 26.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock worth $59,000 after purchasing an additional 537 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Brookfield Renewable Partners by 3.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider's stock worth $550,000 after purchasing an additional 724 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Brookfield Renewable Partners by 2.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider's stock worth $597,000 after buying an additional 725 shares during the last quarter. Barclays PLC increased its position in Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock valued at $183,000 after buying an additional 951 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Brookfield Renewable Partners during the third quarter valued at $28,000. Hedge funds and other institutional investors own 63.16% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company cut their target price on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. National Bankshares cut their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. CIBC reduced their price objective on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating for the company in a research note on Monday, May 5th. Scotiabank upped their target price on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy 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 $29.67.

Brookfield Renewable Partners Stock Performance

Shares of BEP traded up $0.20 during mid-day trading on Monday, hitting $23.44. 651,958 shares of the company traded hands, compared to its average volume of 560,748. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of -26.34 and a beta of 0.99. The stock has a 50-day moving average price of $22.34 and a two-hundred day moving average price of $23.07. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $29.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). The company had revenue of $907.00 million for the quarter, compared to analysts' expectations of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. Equities analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio is -147.52%.

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.