CIBC Private Wealth Group LLC Has $20.05 Million Stock Holdings in Brookfield Renewable Partners L.P. $BEP

CIBC Private Wealth Group LLC trimmed its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 777,310 shares of the utilities provider’s stock after selling 37,783 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.25% of Brookfield Renewable Partners worth $20,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BEP. Liontrust Investment Partners LLP bought a new position in Brookfield Renewable Partners during the second quarter worth $24,180,000. HB Wealth Management LLC bought a new stake in Brookfield Renewable Partners during the third quarter valued at $979,000. NINE MASTS CAPITAL Ltd bought a new stake in Brookfield Renewable Partners during the second quarter valued at $5,552,000. Principal Financial Group Inc. grew its holdings in Brookfield Renewable Partners by 16.2% during the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock worth $261,189,000 after acquiring an additional 1,414,837 shares during the period. Finally, Citigroup Inc. grew its holdings in Brookfield Renewable Partners by 246.1% during the 3rd quarter. Citigroup Inc. now owns 169,621 shares of the utilities provider’s stock worth $4,373,000 after acquiring an additional 120,618 shares during the period. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $31.88 on Friday. The firm has a market capitalization of $9.73 billion, a P/E ratio of -122.62 and a beta of 1.13. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $32.78. The stock has a 50 day moving average price of $30.17 and a two-hundred day moving average price of $28.52. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%. Equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a dividend of $0.392 per share. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. This represents a $1.57 annualized dividend and a yield of 4.9%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -603.85%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research note on Monday, December 29th. Mizuho set a $31.00 target price on Brookfield Renewable Partners and gave the stock a “neutral” rating in a report on Monday, February 2nd. Desjardins raised Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th. National Bank Financial increased their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $38.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, November 24th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.93.

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.