Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 16.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 707,791 shares of the utilities provider’s stock after selling 136,970 shares during the period. Goldman Sachs Group Inc. owned approximately 0.25% of Brookfield Renewable Partners worth $18,601,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Nova Scotia lifted its position in shares of Brookfield Renewable Partners by 10.7% in the fourth quarter. Bank of Nova Scotia now owns 704,744 shares of the utilities provider’s stock valued at $18,515,000 after acquiring an additional 67,964 shares in the last quarter. FIL Ltd raised its position in shares of Brookfield Renewable Partners by 37.1% in the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after buying an additional 3,474,522 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Brookfield Renewable Partners by 7.1% in the fourth quarter. National Bank of Canada FI now owns 1,041,274 shares of the utilities provider’s stock worth $26,964,000 after buying an additional 68,956 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Brookfield Renewable Partners by 0.9% in the third quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock worth $288,107,000 after buying an additional 117,246 shares in the last quarter. Finally, CCLA Investment Management boosted its position in Brookfield Renewable Partners by 37.2% during the fourth quarter. CCLA Investment Management now owns 2,495,770 shares of the utilities provider’s stock worth $65,558,000 after acquiring an additional 676,754 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Raymond James decreased their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets raised their price target on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. TD Securities lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Royal Bank of Canada boosted their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, Scotiabank increased their price objective on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and an average target price of $31.17.

Brookfield Renewable Partners Stock Performance

Shares of Brookfield Renewable Partners stock opened at $25.38 on Thursday. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -55.19 and a beta of 0.94. The firm’s fifty day simple moving average is $25.61 and its 200-day simple moving average is $24.81. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.56 and a quick ratio of 0.56. Brookfield Renewable Partners L.P. has a 12 month low of $19.92 and a 12 month high of $30.32.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.24). Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The company had revenue of $875.00 million for the quarter, compared to analyst estimates of $828.39 million. As a group, equities analysts forecast that Brookfield Renewable Partners L.P. will post -0.49 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Renewable Partners’s dividend payout ratio is presently -308.69%.

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.