Citigroup Inc. Sells 2,686 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Citigroup Inc. lessened its stake in Brookfield Renewable Partners L.P. (NYSE:BEP – Get Rating) (TSE:BEP) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,476 shares of the utilities provider’s stock after selling 2,686 shares during the period. Citigroup Inc.’s holdings in Brookfield Renewable Partners were worth $3,023,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Atticus Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners in the 4th quarter valued at $27,000. MADDEN SECURITIES Corp acquired a new position in Brookfield Renewable Partners in the 4th quarter valued at about $39,000. Valley National Advisers Inc. grew its position in shares of Brookfield Renewable Partners by 53.2% during the 4th quarter. Valley National Advisers Inc. now owns 1,440 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 500 shares in the last quarter. Hanson & Doremus Investment Management acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter worth approximately $42,000. Finally, Align Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter worth approximately $52,000. Institutional investors own 57.61% of the company’s stock.

Brookfield Renewable Partners Stock Performance

Shares of BEP stock opened at $31.87 on Tuesday. The stock has a market capitalization of $8.78 billion, a P/E ratio of -60.13 and a beta of 0.82. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $30.67 and its 200 day moving average is $28.85. Brookfield Renewable Partners L.P. has a 12 month low of $24.13 and a 12 month high of $41.30.

Brookfield Renewable Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be issued a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Tuesday, May 30th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -254.72%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BEP shares. BMO Capital Markets increased their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 28th. Raymond James dropped their target price on shares of Brookfield Renewable Partners from $42.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, January 26th. Scotiabank reaffirmed a “sector outperform” rating on shares of Brookfield Renewable Partners in a research note on Thursday, April 13th. StockNews.com started coverage on shares of Brookfield Renewable Partners in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Desjardins decreased their target price on shares of Brookfield Renewable Partners from C$46.00 to C$44.00 in a research report on Monday, January 23rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.56.

Brookfield Renewable Partners Profile

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Brookfield Renewable Partners LP engages in the ownership of a portfolio of renewable power and sustainable solution assets. It operates through the following segments: Hydroelectric, Wind, Utility-Scale Solar, Distributed Energy and Sustainable Solutions, and Corporate. The Distributed Energy and Sustainable Solutions segment includes distributed generation, pumped storage, renewable natural gas, carbon capture and storage, recycling, and cogeneration and biomass.