Corient Private Wealth LLC Reduces Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Corient Private Wealth LLC trimmed its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 22.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,032 shares of the utilities provider’s stock after selling 3,440 shares during the period. Corient Private Wealth LLC’s holdings in Brookfield Renewable Partners were worth $274,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. CCLA Investment Management lifted its stake in shares of Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after buying an additional 49,553 shares during the period. CIBC Asset Management Inc raised its holdings in Brookfield Renewable Partners by 23.8% in the 4th quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after acquiring an additional 1,628,524 shares during the last quarter. Abel Hall LLC purchased a new position in shares of Brookfield Renewable Partners during the 4th quarter worth $456,000. NINE MASTS CAPITAL Ltd boosted its holdings in shares of Brookfield Renewable Partners by 240.0% during the fourth quarter. NINE MASTS CAPITAL Ltd now owns 137,573 shares of the utilities provider’s stock worth $3,135,000 after purchasing an additional 97,105 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Brookfield Renewable Partners by 4.5% in the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock valued at $214,328,000 after purchasing an additional 330,648 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BEP shares. Wells Fargo & Company reduced their target price on 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. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. National Bankshares lowered their target price on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Scotiabank upped their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $22.14 on Tuesday. The company has a current ratio of 0.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.30 billion, a PE ratio of -24.88 and a beta of 1.02. The company’s fifty day simple moving average is $22.35 and its 200-day simple moving average is $24.20. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) 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 period last year, the firm earned $0.01 EPS. As a group, equities research analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a dividend of $0.373 per share. The ex-dividend date was Friday, February 28th. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a yield of 6.74%. Brookfield Renewable Partners’s payout ratio is -167.42%.

Brookfield Renewable Partners Company Profile

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.