Bank of Montreal Can Decreases Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Bank of Montreal Can lowered its stake in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,718,096 shares of the utilities provider’s stock after selling 74,711 shares during the quarter. Bank of Montreal Can owned 2.36% of Brookfield Renewable Partners worth $166,407,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its stake in Brookfield Renewable Partners by 8.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock valued at $248,000 after purchasing an additional 750 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Brookfield Renewable Partners by 0.9% in the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock valued at $2,017,000 after buying an additional 768 shares during the last quarter. Tidal Investments LLC raised its position in shares of Brookfield Renewable Partners by 2.5% in the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock valued at $866,000 after buying an additional 894 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after buying an additional 900 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Brookfield Renewable Partners by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 82,262 shares of the utilities provider’s stock worth $2,162,000 after acquiring an additional 1,126 shares during the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Stock Up 1.0 %

Shares of NYSE BEP opened at $26.81 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of -58.28 and a beta of 0.93. The business’s 50 day moving average is $24.75 and its two-hundred day moving average is $24.71. Brookfield Renewable Partners L.P. has a 52-week low of $19.92 and a 52-week high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. Research analysts predict that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $0.355 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 5.30%. Brookfield Renewable Partners’s payout ratio is -308.70%.

Analyst Upgrades and Downgrades

A number of analysts have commented on BEP shares. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. National Bankshares boosted their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, TD Securities boosted their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.80.

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.