Rockefeller Capital Management L.P. Sells 47,075 Shares of Brookfield Renewable Partners L.P. $BEP

Rockefeller Capital Management L.P. trimmed its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 511,152 shares of the utilities provider’s stock after selling 47,075 shares during the period. Rockefeller Capital Management L.P. owned about 0.17% of Brookfield Renewable Partners worth $13,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BEP. Kelleher Financial Advisors bought a new stake in Brookfield Renewable Partners during the 3rd quarter valued at approximately $26,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners in the 2nd quarter worth approximately $34,000. Triumph Capital Management purchased a new stake in Brookfield Renewable Partners during the 3rd quarter valued at approximately $55,000. Global Retirement Partners LLC raised its position in shares of Brookfield Renewable Partners by 284.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock valued at $60,000 after buying an additional 1,633 shares during the last quarter. Finally, UMB Bank n.a. bought a new stake in shares of Brookfield Renewable Partners during the fourth quarter valued at approximately $98,000. Institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

BEP has been the subject of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Friday, March 27th. Morgan Stanley lifted their price target on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. National Bank Financial boosted their price target on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $40.00 price objective (up from $37.00) on shares of Brookfield Renewable Partners in a report on Monday, April 20th. Finally, TD Securities restated a “buy” rating and set a $39.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Brookfield Renewable Partners Price Performance

NYSE:BEP opened at $35.21 on Thursday. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of -113.58 and a beta of 1.09. Brookfield Renewable Partners L.P. has a 1 year low of $24.13 and a 1 year high of $38.12. The business has a 50 day simple moving average of $34.94 and a 200-day simple moving average of $31.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Equities analysts forecast that Brookfield Renewable Partners L.P. will post -1.53 EPS for the current year.

Brookfield Renewable Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be given a dividend of $0.392 per share. The ex-dividend date is Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.5%. Brookfield Renewable Partners’s payout ratio is -506.45%.

Brookfield Renewable Partners Profile

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.