Rempart Asset Management Inc. Sells 21,720 Shares of Brookfield Renewable Partners L.P. (NYSE:BEP)

Rempart Asset Management Inc. lessened its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 311,115 shares of the utilities provider’s stock after selling 21,720 shares during the period. Brookfield Renewable Partners makes up about 1.4% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Rempart Asset Management Inc.’s holdings in Brookfield Renewable Partners were worth $7,070,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp raised its stake in shares of Brookfield Renewable Partners by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 403 shares in the last quarter. GAMMA Investing LLC lifted its stake in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Brookfield Renewable Partners by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after acquiring an additional 749 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 945 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Stock Down 2.7 %

BEP traded down $0.63 during trading on Wednesday, hitting $22.98. 171,529 shares of the company’s stock were exchanged, compared to its average volume of 422,870. The stock has a market cap of $6.55 billion, a P/E ratio of -28.02 and a beta of 0.95. The business’s 50 day moving average is $24.59 and its two-hundred day moving average is $25.27. 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 quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results 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 business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same period in the previous year, the business posted ($0.14) EPS. As a group, equities analysts expect that Brookfield Renewable Partners L.P. will post -0.88 earnings per share for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a dividend of $0.355 per share. The ex-dividend date was Friday, November 29th. This represents a $1.42 annualized dividend and a yield of 6.18%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is currently -173.17%.

Analyst Ratings Changes

A number of research firms recently commented on BEP. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. CIBC raised 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. JPMorgan Chase & Co. raised shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Thursday, December 12th. Finally, National Bankshares dropped their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners 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.