CIBC Asset Management Inc Trims Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

CIBC Asset Management Inc decreased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,843,646 shares of the utilities provider’s stock after selling 72,168 shares during the quarter. CIBC Asset Management Inc’s holdings in Brookfield Renewable Partners were worth $193,146,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Brookfield Renewable Partners by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after buying an additional 330,648 shares during the period. CCLA Investment Management lifted its stake in shares of Brookfield Renewable Partners by 1.9% in the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after purchasing an additional 47,734 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Brookfield Renewable Partners by 2.9% in the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock valued at $58,805,000 after purchasing an additional 67,777 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of Brookfield Renewable Partners by 0.3% during the 2nd quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock worth $40,327,000 after purchasing an additional 5,388 shares during the period. Finally, Intact Investment Management Inc. acquired a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $42,331,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Trading Up 0.1 %

NYSE:BEP opened at $25.31 on Friday. The business’s 50 day moving average is $26.58 and its two-hundred day moving average is $25.89. The company has a quick ratio of 0.52, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. During the same quarter last year, the business earned ($0.14) earnings per share. On average, research analysts predict that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.355 per share. The ex-dividend date is Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 5.61%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -173.17%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BEP shares. CIBC boosted their price objective on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. National Bankshares raised their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Company 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.