Clearstead Trust LLC Lowers Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Clearstead Trust LLC reduced its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,866 shares of the utilities provider’s stock after selling 1,429 shares during the quarter. Clearstead Trust LLC’s holdings in Brookfield Renewable Partners were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc grew its stake in Brookfield Renewable Partners by 23.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,472,170 shares of the utilities provider’s stock valued at $192,605,000 after acquiring an additional 1,628,524 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Brookfield Renewable Partners by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 7,851,842 shares of the utilities provider’s stock valued at $178,943,000 after purchasing an additional 246,163 shares in the last quarter. Bank of Montreal Can grew its position in shares of Brookfield Renewable Partners by 0.4% during the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock valued at $190,469,000 after purchasing an additional 26,189 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Brookfield Renewable Partners by 4.4% in the fourth quarter. Cibc World Market Inc. now owns 2,751,587 shares of the utilities provider’s stock worth $62,647,000 after buying an additional 116,593 shares in the last quarter. Finally, CCLA Investment Management boosted its stake in Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock valued at $59,838,000 after buying an additional 49,553 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.

Wall Street Analyst Weigh In

BEP has been the topic of a number of research reports. Wells Fargo & Company reduced their price objective on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Brookfield Renewable Partners Stock Down 0.1 %

Shares of NYSE:BEP opened at $22.78 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. The business has a 50 day simple moving average of $22.12 and a two-hundred day simple moving average of $24.35. Brookfield Renewable Partners L.P. has a 1 year low of $19.92 and a 1 year high of $29.56. The firm has a market capitalization of $6.50 billion, a PE ratio of -25.60 and a beta of 1.02.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter in the previous year, the company posted $0.01 earnings per share. On average, equities analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.373 dividend. This represents a $1.49 annualized dividend and a yield of 6.55%. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -167.42%.

Brookfield Renewable Partners 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.