Kayne Anderson Capital Advisors LP Sells 483,509 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Kayne Anderson Capital Advisors LP lowered its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,181,780 shares of the utilities provider’s stock after selling 483,509 shares during the quarter. Brookfield Renewable Partners comprises approximately 1.0% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 23rd largest holding. Kayne Anderson Capital Advisors LP owned 0.41% of Brookfield Renewable Partners worth $31,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BEP. Baystate Wealth Management LLC acquired a new stake in Brookfield Renewable Partners in the fourth quarter worth $26,000. Apollon Wealth Management LLC bought a new position in Brookfield Renewable Partners during the fourth quarter worth about $234,000. Private Advisor Group LLC acquired a new position in Brookfield Renewable Partners in the fourth quarter valued at about $281,000. Stratos Wealth Partners LTD. bought a new stake in shares of Brookfield Renewable Partners in the third quarter worth about $244,000. Finally, Clearstead Advisors LLC raised its position in shares of Brookfield Renewable Partners by 8.5% during the third quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 967 shares during the period. 63.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BEP has been the topic of several research analyst reports. Royal Bank of Canada raised their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday. CIBC upped their target price on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday. National Bankshares lifted their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. BMO Capital Markets increased their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday. Finally, StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock traded up $0.09 during trading on Thursday, hitting $26.98. 48,473 shares of the stock were exchanged, compared to its average volume of 523,052. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average price of $22.67 and a 200-day moving average price of $24.03. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of -58.46 and a beta of 0.83. Brookfield Renewable Partners L.P. has a 1-year low of $19.92 and a 1-year high of $32.76.

Brookfield Renewable Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -219.56%.

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.