Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 58.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,156,274 shares of the utilities provider’s stock after selling 1,633,304 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.41% of Brookfield Renewable Partners worth $32,604,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Brookfield Renewable Partners by 4.5% during the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after acquiring an additional 330,648 shares during the period. CIBC Asset Management Inc boosted its holdings in Brookfield Renewable Partners by 0.6% in the 2nd quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock valued at $171,010,000 after purchasing an additional 37,836 shares in the last quarter. CCLA Investment Management increased its position in Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock worth $63,952,000 after purchasing an additional 47,734 shares during the period. TD Asset Management Inc raised its stake in shares of Brookfield Renewable Partners by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock worth $58,805,000 after buying an additional 67,777 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Brookfield Renewable Partners by 0.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock valued at $40,327,000 after buying an additional 5,388 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock opened at $25.32 on Wednesday. Brookfield Renewable Partners L.P. has a fifty-two week low of $19.92 and a fifty-two week high of $29.56. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of -30.88 and a beta of 0.95. The stock has a fifty day moving average of $26.63 and a two-hundred day moving average of $25.97. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73.

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 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 firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. During the same period in the prior year, the firm earned ($0.14) EPS. On average, analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

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

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.