Nicola Wealth Management LTD. Cuts Stock Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Nicola Wealth Management LTD. trimmed its stake in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,000 shares of the utilities provider’s stock after selling 4,000 shares during the quarter. Nicola Wealth Management LTD. owned 0.05% of Brookfield Renewable Partners worth $4,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BEP. GAMMA Investing LLC increased its stake in Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares in the last quarter. Clear Point Advisors Inc. purchased a new position in shares of Brookfield Renewable Partners in the 1st quarter worth $49,000. Evermay Wealth Management LLC purchased a new position in Brookfield Renewable Partners in the first quarter valued at about $49,000. Waverton Investment Management Ltd purchased a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $178,000. Finally, Creative Planning purchased a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $206,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Up 0.3 %

NYSE:BEP traded up $0.07 on Thursday, hitting $25.36. 91,079 shares of the company’s stock were exchanged, compared to its average volume of 475,817. The company has a market cap of $7.23 billion, a P/E ratio of -30.84 and a beta of 0.95. The firm has a 50-day moving average price of $26.58 and a 200-day moving average price of $25.89. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.52.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. During the same quarter last year, the company posted ($0.14) EPS. As a group, analysts expect that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Announces Dividend

The business 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 $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 5.60%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable Partners’s payout ratio is -173.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BEP. JPMorgan Chase & Co. decreased their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. CIBC upped their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set 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 issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus price target of $31.78.

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.