Invesco Ltd. Sells 136,232 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Invesco Ltd. trimmed its position in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,501,952 shares of the utilities provider's stock after selling 136,232 shares during the period. Invesco Ltd. owned about 0.53% of Brookfield Renewable Partners worth $34,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BEP. Bank of Montreal Can increased its position in shares of Brookfield Renewable Partners by 4.7% during the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider's stock valued at $160,585,000 after acquiring an additional 315,272 shares during the last quarter. National Bank of Canada FI grew its stake in Brookfield Renewable Partners by 102.4% in the 4th quarter. National Bank of Canada FI now owns 2,106,264 shares of the utilities provider's stock valued at $48,023,000 after purchasing an additional 1,065,590 shares during the period. NEOS Investment Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at $265,000. JPMorgan Chase & Co. raised its stake in shares of Brookfield Renewable Partners by 212.0% during the 4th quarter. JPMorgan Chase & Co. now owns 206,916 shares of the utilities provider's stock worth $4,716,000 after purchasing an additional 140,604 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Brookfield Renewable Partners by 32.8% in the 4th quarter. LPL Financial LLC now owns 57,514 shares of the utilities provider's stock worth $1,311,000 after buying an additional 14,194 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Price Performance

NYSE:BEP traded up $0.47 during trading hours on Tuesday, hitting $21.98. The stock had a trading volume of 442,928 shares, compared to its average volume of 580,803. The company has a 50 day simple moving average of $22.32 and a two-hundred day simple moving average of $23.52. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of -24.70 and a beta of 0.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. 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 quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter last year, the business earned $0.01 earnings per share. Research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 6.79%. This is a boost from Brookfield Renewable Partners's previous quarterly dividend of $0.36. The ex-dividend date was Friday, February 28th. Brookfield Renewable Partners's dividend payout ratio is -167.42%.

Wall Street Analysts Forecast Growth

BEP has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Scotiabank upped their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. StockNews.com downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. CIBC dropped their price target on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating on the stock in a research report on Monday, February 3rd. Finally, Barclays initiated coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and an average target price of $30.18.

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.