Silver Lake Advisory LLC Cuts Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Silver Lake Advisory LLC cut its position in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,625 shares of the utilities provider’s stock after selling 1,750 shares during the quarter. Silver Lake Advisory LLC’s holdings in Brookfield Renewable Partners were worth $673,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BEP. Royal Bank of Canada grew its position in Brookfield Renewable Partners by 0.9% during the third quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock valued at $288,107,000 after acquiring an additional 117,246 shares during the last quarter. Montrusco Bolton Investments Inc. grew its holdings in shares of Brookfield Renewable Partners by 17.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,984,628 shares of the utilities provider’s stock valued at $43,318,000 after purchasing an additional 294,302 shares during the last quarter. Baystate Wealth Management LLC purchased a new position in Brookfield Renewable Partners in the 4th quarter worth $26,000. Maven Securities LTD purchased a new stake in Brookfield Renewable Partners during the third quarter valued at about $1,087,000. Finally, Alpine Global Management LLC bought a new position in shares of Brookfield Renewable Partners during the third quarter valued at about $282,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on BEP shares. National Bankshares boosted their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Raymond James dropped their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Brookfield Renewable Partners Stock Up 4.2 %

BEP stock traded up $0.99 during midday trading on Thursday, hitting $24.29. The stock had a trading volume of 313,508 shares, compared to its average volume of 508,425. Brookfield Renewable Partners L.P. has a 52-week low of $19.92 and a 52-week high of $32.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57. The business has a 50-day moving average of $22.35 and a two-hundred day moving average of $23.86.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business earned ($0.16) EPS. Brookfield Renewable Partners’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Brookfield Renewable Partners L.P. will post -0.01 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a $0.355 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.42 annualized dividend and a dividend yield of 5.85%. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.34. Brookfield Renewable Partners’s dividend payout ratio is presently -315.63%.

About Brookfield Renewable Partners

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.