Royal Bank of Canada Has $375.25 Million Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Royal Bank of Canada raised its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP - Free Report) TSE: BEP by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,465,478 shares of the utilities provider's stock after purchasing an additional 211,467 shares during the quarter. Royal Bank of Canada owned 5.77% of Brookfield Renewable Partners worth $375,248,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its position in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider's stock valued at $199,000 after acquiring an additional 2,036 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Brookfield Renewable Partners by 442.3% during the fourth quarter. Arkadios Wealth Advisors now owns 52,399 shares of the utilities provider's stock valued at $1,194,000 after buying an additional 42,737 shares during the last quarter. Epiq Partners LLC lifted its position in shares of Brookfield Renewable Partners by 1.4% during the fourth quarter. Epiq Partners LLC now owns 105,228 shares of the utilities provider's stock valued at $2,398,000 after buying an additional 1,500 shares during the last quarter. Abel Hall LLC purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter valued at about $456,000. Finally, Cibc World Market Inc. raised its position in shares of Brookfield Renewable Partners by 4.4% in the 4th quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider's stock valued at $62,647,000 after purchasing an additional 116,593 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company's stock.

Brookfield Renewable Partners Stock Down 1.9%

Shares of BEP traded down $0.48 during trading hours on Tuesday, reaching $24.27. The company's stock had a trading volume of 361,185 shares, compared to its average volume of 561,881. The company has a 50 day moving average of $22.49 and a two-hundred day moving average of $23.01. Brookfield Renewable Partners L.P. has a 1-year low of $19.29 and a 1-year high of $29.56. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of -27.27 and a beta of 0.99. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. The firm had revenue of $907.00 million during the quarter, compared to the consensus estimate of $1.73 billion. As a group, research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Friday, May 30th. Brookfield Renewable Partners's dividend payout ratio is presently -147.52%.

Wall Street Analyst Weigh In

BEP has been the topic of a number of analyst reports. Scotiabank raised their price objective 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. National Bankshares reduced their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company reduced their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. StockNews.com cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, February 3rd. One investment 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, Brookfield Renewable Partners currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.67.

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.