CCLA Investment Management Has $59.26 Million Stock Holdings in Brookfield Renewable Partners L.P. $BEP

CCLA Investment Management lessened its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,199,682 shares of the utilities provider’s stock after selling 164,160 shares during the period. CCLA Investment Management owned 0.72% of Brookfield Renewable Partners worth $59,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Brookfield Renewable Partners by 16.2% in the third 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 last quarter. Bank of Montreal Can grew its stake in shares of Brookfield Renewable Partners by 6.5% in the third quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock worth $179,837,000 after acquiring an additional 428,446 shares during the last quarter. Scotia Capital Inc. grew its stake in shares of Brookfield Renewable Partners by 2.5% in the third quarter. Scotia Capital Inc. now owns 2,751,581 shares of the utilities provider’s stock worth $70,795,000 after acquiring an additional 67,481 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Brookfield Renewable Partners by 8.4% in the third quarter. National Bank of Canada FI now owns 2,697,265 shares of the utilities provider’s stock worth $69,226,000 after acquiring an additional 207,985 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Brookfield Renewable Partners by 20.2% in the third quarter. Ameriprise Financial Inc. now owns 1,791,832 shares of the utilities provider’s stock worth $46,211,000 after acquiring an additional 301,229 shares during the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Up 4.2%

NYSE BEP opened at $34.21 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average is $31.35 and its two-hundred day moving average is $29.25. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of -131.56 and a beta of 1.09. Brookfield Renewable Partners L.P. has a 1-year low of $19.49 and a 1-year high of $34.32.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data 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 the consensus estimate 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 company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were paid a $0.392 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.57 annualized dividend and a dividend yield of 4.6%. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. Brookfield Renewable Partners’s dividend payout ratio is presently -603.85%.

Analyst Ratings Changes

Several brokerages have 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 note on Monday, February 2nd. Zacks Research raised Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. Barclays set a $28.00 target price on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, Wall Street Zen raised Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.21.

Brookfield Renewable Partners Profile

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.