Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Brookfield Renewable Partners L.P. (NYSE:BEP)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 58.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,156,274 shares of the utilities provider’s stock after selling 1,633,304 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brookfield Renewable Partners were worth $32,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Intact Investment Management Inc. acquired a new position in Brookfield Renewable Partners during the 3rd quarter worth approximately $42,331,000. Price T Rowe Associates Inc. MD raised its position in shares of Brookfield Renewable Partners by 103.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,171,448 shares of the utilities provider’s stock worth $27,214,000 after purchasing an additional 595,335 shares during the period. TD Asset Management Inc boosted its holdings in shares of Brookfield Renewable Partners by 2.9% during the second quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock valued at $58,805,000 after acquiring an additional 67,777 shares during the period. Triasima Portfolio Management inc. bought a new position in shares of Brookfield Renewable Partners during the second quarter worth about $16,936,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth about $6,191,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BEP. CIBC upped their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $24.00 to $31.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. decreased their price target 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. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $25.32 on Wednesday. The company has a quick ratio of 0.73, 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. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of -30.88 and a beta of 0.95. The stock’s fifty day simple moving average is $26.63 and its 200 day simple moving average is $25.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. As a group, sell-side analysts forecast that Brookfield Renewable Partners L.P. will post -0.57 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

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

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.