Citigroup Inc. lessened its stake in Brookfield Renewable Partners L.P. (NYSE:BEP – Free Report) (TSE:BEP) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,570 shares of the utilities provider’s stock after selling 9,906 shares during the quarter. Citigroup Inc.’s holdings in Brookfield Renewable Partners were worth $3,449,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Lakewood Asset Management LLC purchased a new position in Brookfield Renewable Partners in the fourth quarter valued at approximately $27,000. Financial Freedom LLC purchased a new stake in Brookfield Renewable Partners during the 4th quarter worth $28,000. Clear Street Markets LLC acquired a new stake in Brookfield Renewable Partners in the 4th quarter valued at $34,000. MV Capital Management Inc. raised its position in Brookfield Renewable Partners by 168.0% in the first quarter. MV Capital Management Inc. now owns 1,608 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 1,008 shares during the period. Finally, GPS Wealth Strategies Group LLC acquired a new position in shares of Brookfield Renewable Partners during the first quarter worth about $52,000. 60.36% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on BEP shares. Scotiabank assumed coverage on Brookfield Renewable Partners in a research note on Friday, June 23rd. They issued an “outperform” rating for the company. 888 restated a “maintains” rating on shares of Brookfield Renewable Partners in a research note on Tuesday, June 13th. Mizuho dropped their price target on shares of Brookfield Renewable Partners from $32.00 to $27.00 in a research note on Wednesday, August 9th. Finally, StockNews.com initiated coverage on shares of Brookfield Renewable Partners in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.17.
Brookfield Renewable Partners Price Performance
Shares of BEP stock opened at $25.18 on Monday. The firm has a market cap of $7.27 billion, a P/E ratio of -41.97 and a beta of 0.80. The firm has a fifty day moving average of $27.99 and a two-hundred day moving average of $29.28. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.91 and a quick ratio of 0.91. Brookfield Renewable Partners L.P. has a 1-year low of $24.13 and a 1-year high of $38.61.
Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last posted its quarterly earnings results on Friday, August 4th. The utilities provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.18). Brookfield Renewable Partners had a return on equity of 1.24% and a net margin of 6.43%. The firm had revenue of $719.00 million during the quarter, compared to analyst estimates of $798.25 million. As a group, research analysts anticipate that Brookfield Renewable Partners L.P. will post 0.13 earnings per share for the current fiscal year.
Brookfield Renewable Partners Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a $0.3375 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 5.36%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -225.00%.
Brookfield Renewable Partners Company Profile
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.
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