CIBC Private Wealth Group LLC Decreases Stake in Brookfield Renewable Partners L.P. $BEP

CIBC Private Wealth Group LLC trimmed its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 777,310 shares of the utilities provider’s stock after selling 37,783 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Brookfield Renewable Partners were worth $20,047,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Brookfield Renewable Partners by 16.2% in the 3rd quarter. Principal Financial Group Inc. now owns 10,127,549 shares of the utilities provider’s stock valued at $261,189,000 after purchasing an additional 1,414,837 shares during the period. Liontrust Investment Partners LLP bought a new stake in shares of Brookfield Renewable Partners during the 2nd quarter worth $24,180,000. CIBC Bancorp USA Inc. purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter worth about $19,944,000. Picton Mahoney Asset Management purchased a new position in shares of Brookfield Renewable Partners in the 2nd quarter worth about $13,899,000. Finally, Bank of Montreal Can grew its position in Brookfield Renewable Partners by 6.5% during the third quarter. Bank of Montreal Can now owns 6,978,958 shares of the utilities provider’s stock valued at $179,837,000 after buying an additional 428,446 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

NYSE BEP opened at $31.88 on Friday. The company has a market cap of $9.73 billion, a PE ratio of -122.62 and a beta of 1.13. Brookfield Renewable Partners L.P. has a 52 week low of $19.29 and a 52 week high of $32.78. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80. The firm’s 50-day simple moving average is $30.17 and its two-hundred day simple moving average is $28.52.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.49 billion. Research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 earnings per share for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.392 dividend. This is a boost from Brookfield Renewable Partners’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.57 annualized dividend and a yield of 4.9%. Brookfield Renewable Partners’s payout ratio is -603.85%.

Analyst Ratings Changes

A number of research firms recently issued reports on BEP. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, December 29th. Morgan Stanley reissued an “overweight” rating and set a $38.00 target price (up from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, November 24th. Mizuho set a $31.00 price target on shares of Brookfield Renewable Partners and gave the stock a “neutral” rating in a research note on Monday, February 2nd. National Bank Financial lifted their price target on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Finally, Barclays set a $28.00 price objective on Brookfield Renewable Partners and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and a consensus target price of $34.93.

About Brookfield Renewable Partners

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.