DAVENPORT & Co LLC Sells 17,250 Shares of Brookfield Renewable Partners L.P. $BEP

DAVENPORT & Co LLC lowered its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 343,795 shares of the utilities provider’s stock after selling 17,250 shares during the period. DAVENPORT & Co LLC owned about 0.11% of Brookfield Renewable Partners worth $9,267,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Kelleher Financial Advisors bought a new position in Brookfield Renewable Partners in the third quarter valued at about $26,000. Russell Investments Group Ltd. acquired a new position in Brookfield Renewable Partners during the second quarter worth about $34,000. Root Financial Partners LLC bought a new position in shares of Brookfield Renewable Partners in the third quarter worth about $46,000. Hilltop National Bank boosted its stake in shares of Brookfield Renewable Partners by 37.6% in the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 500 shares in the last quarter. Finally, Triumph Capital Management acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at approximately $55,000. 63.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BEP. Mizuho set a $31.00 price objective on shares of Brookfield Renewable Partners and gave the stock a “neutral” rating in a research report on Monday, February 2nd. UBS Group restated a “buy” rating and issued a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th. Morgan Stanley boosted their target price on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays set a $28.00 price target on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, National Bank Financial increased their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.21.

Brookfield Renewable Partners Stock Down 1.1%

Shares of NYSE BEP opened at $31.44 on Friday. The company has a 50 day simple moving average of $30.51 and a 200 day simple moving average of $28.74. The firm has a market cap of $9.60 billion, a PE ratio of -120.90 and a beta of 1.13. Brookfield Renewable Partners L.P. has a 1 year low of $19.29 and a 1 year high of $32.78. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick 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, topping analysts’ consensus estimates of ($0.34) by $0.88. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. On average, research analysts forecast that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be paid a $0.392 dividend. This is a positive change from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Renewable Partners’s payout ratio is presently -603.85%.

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.