Kayne Anderson Capital Advisors LP Has $31.06 Million Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Kayne Anderson Capital Advisors LP lowered its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 29.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,181,780 shares of the utilities provider's stock after selling 483,509 shares during the period. Brookfield Renewable Partners accounts for 1.0% of Kayne Anderson Capital Advisors LP's investment portfolio, making the stock its 23rd biggest position. Kayne Anderson Capital Advisors LP owned about 0.41% of Brookfield Renewable Partners worth $31,057,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Baystate Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the 4th quarter valued at $26,000. Apollon Wealth Management LLC acquired a new stake in Brookfield Renewable Partners during the fourth quarter worth about $234,000. Stratos Wealth Partners LTD. purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth about $244,000. Clearstead Advisors LLC lifted its stake in shares of Brookfield Renewable Partners by 8.5% in the 3rd quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider's stock valued at $269,000 after purchasing an additional 967 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of Brookfield Renewable Partners during the 4th quarter worth about $281,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Up 2.6 %

NYSE:BEP traded up $0.69 during mid-day trading on Thursday, reaching $27.58. The stock had a trading volume of 420,381 shares, compared to its average volume of 527,391. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -59.96 and a beta of 0.83. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $32.76. The stock's 50 day simple moving average is $22.77 and its two-hundred day simple moving average is $24.05.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.355 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.15%. Brookfield Renewable Partners's payout ratio is currently -219.56%.

Wall Street Analyst Weigh In

BEP has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $28.00 price target (down from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. Scotiabank boosted their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday. Royal Bank of Canada raised their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an "outperform" rating in a report on Monday. Finally, StockNews.com cut Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.75.

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.