Brookfield Renewable Partners L.P. $BEP Shares Sold by Credit Industriel ET Commercial

Credit Industriel ET Commercial trimmed its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 60.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 165,530 shares of the utilities provider’s stock after selling 250,563 shares during the quarter. Credit Industriel ET Commercial owned 0.05% of Brookfield Renewable Partners worth $5,403,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in Brookfield Renewable Partners by 7.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock valued at $264,000 after purchasing an additional 742 shares in the last quarter. Allworth Financial LP raised its position in shares of Brookfield Renewable Partners by 9.5% in the 4th quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 750 shares in the last quarter. Tacita Capital Inc boosted its stake in shares of Brookfield Renewable Partners by 0.7% during the 4th quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock valued at $3,220,000 after buying an additional 770 shares during the last quarter. Kelleher Financial Advisors purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $26,000. Finally, Osaic Holdings Inc. grew its position in shares of Brookfield Renewable Partners by 5.4% during the second quarter. Osaic Holdings Inc. now owns 23,468 shares of the utilities provider’s stock worth $599,000 after buying an additional 1,212 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Performance

BEP stock opened at $33.66 on Tuesday. The stock’s 50 day simple moving average is $34.98 and its 200 day simple moving average is $32.05. Brookfield Renewable Partners L.P. has a 12-month low of $24.13 and a 12-month high of $38.12. The firm has a market cap of $10.16 billion, a P/E ratio of -108.58 and a beta of 1.10. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Saturday, May 2nd. The utilities provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.04). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%. As a group, equities research analysts predict that Brookfield Renewable Partners L.P. will post -1.53 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were issued a $0.392 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. Brookfield Renewable Partners’s payout ratio is -506.45%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BEP. TD Securities reaffirmed a “buy” rating and issued a $39.00 price target on shares of Brookfield Renewable Partners in a report on Monday, May 4th. Wall Street Zen lowered shares of Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a report on Sunday, May 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Wednesday, June 24th. Morgan Stanley upped their target price on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Finally, UBS Group reaffirmed a “buy” rating and set a $40.00 price target (up from $39.00) on shares of Brookfield Renewable Partners in a research report on Friday, June 12th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Brookfield Renewable Partners Company 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.