Stratos Wealth Partners LTD. Cuts Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Stratos Wealth Partners LTD. reduced its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 15.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,818 shares of the utilities provider’s stock after selling 1,968 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Brookfield Renewable Partners were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its holdings in Brookfield Renewable Partners by 1.3% in the fourth quarter. Royal Bank of Canada now owns 16,465,478 shares of the utilities provider’s stock worth $375,248,000 after purchasing an additional 211,467 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 6.3% during the first quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider’s stock worth $184,904,000 after buying an additional 492,199 shares during the period. Bank of Montreal Can lifted its stake in shares of Brookfield Renewable Partners by 4.7% during the fourth quarter. Bank of Montreal Can now owns 7,059,557 shares of the utilities provider’s stock worth $160,585,000 after buying an additional 315,272 shares during the period. Scotia Capital Inc. lifted its stake in shares of Brookfield Renewable Partners by 13.5% during the fourth quarter. Scotia Capital Inc. now owns 2,715,043 shares of the utilities provider’s stock worth $61,433,000 after buying an additional 323,619 shares during the period. Finally, Bank of Nova Scotia lifted its stake in shares of Brookfield Renewable Partners by 31.8% during the fourth quarter. Bank of Nova Scotia now owns 2,338,940 shares of the utilities provider’s stock worth $53,263,000 after buying an additional 564,515 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Stock Down 1.7%

BEP opened at $26.71 on Thursday. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.51 and a current ratio of 0.51. The company has a fifty day moving average of $24.98 and a two-hundred day moving average of $23.16. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of -26.45 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. The firm had revenue of $907.00 million during the quarter, compared to analysts’ expectations of $1.73 billion. On average, research analysts expect that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were issued a $0.373 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.49 dividend on an annualized basis and a yield of 5.59%. Brookfield Renewable Partners’s payout ratio is -147.52%.

Analyst Upgrades and Downgrades

BEP has been the subject of several research reports. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective on shares of Brookfield Renewable Partners in a research note on Tuesday. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Barclays assumed coverage on shares of Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They set an “equal weight” rating and a $27.00 price objective for the company. National Bank Financial upgraded shares of Brookfield Renewable Partners to a “strong-buy” rating in a research report on Sunday, June 8th. Finally, CIBC decreased their target price on shares of Brookfield Renewable Partners from $31.00 to $30.00 and set an “outperformer” rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.56.

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.