Brookfield Renewable Partners L.P. $BEP Shares Sold by Credit Industriel ET Commercial

Credit Industriel ET Commercial decreased its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 60.2% during the 1st quarter, HoldingsChannel reports. The firm owned 165,530 shares of the utilities provider’s stock after selling 250,563 shares during the period. Credit Industriel ET Commercial’s holdings in Brookfield Renewable Partners were worth $5,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BEP. Envestnet Asset Management Inc. grew its stake in Brookfield Renewable Partners by 7.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock worth $264,000 after buying an additional 742 shares during the last quarter. Allworth Financial LP lifted its stake in Brookfield Renewable Partners by 9.5% in the fourth quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock valued at $233,000 after buying an additional 750 shares during the last quarter. Tacita Capital Inc lifted its stake in Brookfield Renewable Partners by 0.7% in the fourth quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock valued at $3,220,000 after buying an additional 770 shares during the last quarter. Kelleher Financial Advisors acquired a new position in shares of Brookfield Renewable Partners during the third quarter valued at $26,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Brookfield Renewable Partners by 5.4% during the second quarter. Osaic Holdings Inc. now owns 23,468 shares of the utilities provider’s stock valued at $599,000 after acquiring an additional 1,212 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

BEP stock opened at $33.66 on Tuesday. The company has a market capitalization of $10.16 billion, a P/E ratio of -108.58 and a beta of 1.10. The company has a 50-day simple moving average of $34.98 and a 200 day simple moving average of $32.05. Brookfield Renewable Partners L.P. has a fifty-two week low of $24.13 and a fifty-two week high of $38.12. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. Sell-side analysts predict that Brookfield Renewable Partners L.P. will post -1.53 earnings per share for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a $0.392 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -506.45%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. National Bank Financial upped their price target on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield Renewable Partners from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Zacks Research cut shares of Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. TD Securities reaffirmed a “buy” rating and set a $39.00 price target on shares of Brookfield Renewable Partners in a report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $40.00 price objective (up from $37.00) on shares of Brookfield Renewable Partners in a research report on Monday, April 20th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Brookfield Renewable Partners Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.