Advisors Asset Management Inc. Decreases Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Advisors Asset Management Inc. reduced its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEPGet Rating) (TSE:BEP) by 66.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,974 shares of the utilities provider’s stock after selling 10,062 shares during the period. Advisors Asset Management Inc.’s holdings in Brookfield Renewable Partners were worth $173,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tompkins Financial Corp purchased a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth $25,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Brookfield Renewable Partners by 216.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 950 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 650 shares during the last quarter. Curi Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth $33,000. Geneos Wealth Management Inc. lifted its position in Brookfield Renewable Partners by 363.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,275 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Carl Stuart Investment Advisor Inc. purchased a new stake in Brookfield Renewable Partners in the first quarter valued at $54,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Trading Down 1.2 %

NYSE BEP opened at $28.49 on Tuesday. Brookfield Renewable Partners L.P. has a 12 month low of $27.32 and a 12 month high of $41.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -50.87 and a beta of 0.71. The company’s fifty day moving average price is $31.15 and its two-hundred day moving average price is $34.53.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 4.49%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -228.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Brookfield Renewable Partners from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. TD Securities initiated coverage on shares of Brookfield Renewable Partners in a research report on Tuesday, October 18th. They set a “buy” rating on the stock. Royal Bank of Canada upped their price objective on shares of Brookfield Renewable Partners from $39.00 to $43.00 and gave the company a “sector perform” rating in a research note on Monday, August 8th. Mizuho reduced their price objective on shares of Brookfield Renewable Partners from $38.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 30th. Finally, National Bankshares reduced their price objective on shares of Brookfield Renewable Partners from $42.00 to $35.00 in a research note on Friday, October 7th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.27.

Brookfield Renewable Partners Profile

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Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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