Intact Investment Management Inc. Cuts Stake in Brookfield Renewable Partners L.P. $BEP

Intact Investment Management Inc. cut its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 795,767 shares of the utilities provider’s stock after selling 46,900 shares during the period. Intact Investment Management Inc. owned approximately 0.28% of Brookfield Renewable Partners worth $20,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BEP. PFG Investments LLC raised its stake in Brookfield Renewable Partners by 3.1% during the third quarter. PFG Investments LLC now owns 53,106 shares of the utilities provider’s stock worth $1,370,000 after purchasing an additional 1,610 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Brookfield Renewable Partners during the 3rd quarter worth $46,000. JCIC Asset Management Inc. purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth $72,000. Gold Investment Management Ltd. raised its position in shares of Brookfield Renewable Partners by 3.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 98,422 shares of the utilities provider’s stock worth $2,537,000 after buying an additional 3,264 shares during the period. Finally, Walter Public Investments Inc. boosted its holdings in Brookfield Renewable Partners by 16.7% in the third quarter. Walter Public Investments Inc. now owns 21,000 shares of the utilities provider’s stock valued at $541,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Mizuho set a $33.00 price target on Brookfield Renewable Partners in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their target price on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. CIBC set a $35.00 price target on shares of Brookfield Renewable Partners and gave the company an “outperformer” rating in a report on Thursday, November 6th. Barclays set a $28.00 price objective on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research note on Friday. Finally, Desjardins raised shares of Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.93.

Brookfield Renewable Partners Trading Up 0.9%

BEP opened at $28.39 on Monday. The firm has a market capitalization of $8.69 billion, a P/E ratio of -33.01 and a beta of 1.12. The firm’s 50 day moving average is $27.86 and its 200-day moving average is $27.23. Brookfield Renewable Partners L.P. has a 52-week low of $19.29 and a 52-week high of $32.72. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.22. Brookfield Renewable Partners had a net margin of 3.52% and a return on equity of 0.66%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Analysts expect that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, November 28th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.26%.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.