Montrusco Bolton Investments Inc. Lowers Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Montrusco Bolton Investments Inc. reduced its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 75.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 136,176 shares of the utilities provider’s stock after selling 412,689 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Brookfield Renewable Partners were worth $3,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MAI Capital Management grew its stake in Brookfield Renewable Partners by 294.2% in the 3rd quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock worth $2,443,000 after acquiring an additional 64,695 shares during the period. Kayne Anderson Capital Advisors LP grew its stake in Brookfield Renewable Partners by 105.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 334,822 shares of the utilities provider’s stock worth $9,435,000 after acquiring an additional 172,028 shares during the period. Waverton Investment Management Ltd purchased a new stake in Brookfield Renewable Partners in the 3rd quarter worth approximately $178,000. Apollon Wealth Management LLC boosted its holdings in shares of Brookfield Renewable Partners by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 945 shares during the last quarter. Finally, Tacita Capital Inc boosted its holdings in shares of Brookfield Renewable Partners by 1.7% in the 3rd quarter. Tacita Capital Inc now owns 114,583 shares of the utilities provider’s stock valued at $3,235,000 after purchasing an additional 1,957 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $25.17 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a 50-day simple moving average of $26.59 and a 200 day simple moving average of $25.95. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a market cap of $7.18 billion, a PE ratio of -30.69 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. During the same period in the prior year, the business earned ($0.14) EPS. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.355 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.64%. Brookfield Renewable Partners’s dividend payout ratio is currently -173.17%.

Analyst Upgrades and Downgrades

BEP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. CIBC lifted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.78.

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.