JPMorgan Chase & Co. Lowers Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

JPMorgan Chase & Co. lowered its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 64.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,312 shares of the utilities provider’s stock after selling 122,358 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brookfield Renewable Partners were worth $1,869,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BEP. GAMMA Investing LLC raised its holdings in shares of Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at approximately $28,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at approximately $178,000. Barclays PLC increased its holdings in shares of Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at approximately $206,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Analysts Set New Price Targets

BEP has been the subject of several recent research reports. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC increased their price objective on Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.44.

Brookfield Renewable Partners Trading Down 3.2 %

BEP opened at $20.03 on Thursday. The firm has a market cap of $5.71 billion, a P/E ratio of -24.43 and a beta of 0.95. The business has a fifty day simple moving average of $23.72 and a 200-day simple moving average of $25.00. Brookfield Renewable Partners L.P. has a 52 week low of $19.92 and a 52 week high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter last year, the business posted ($0.14) earnings per share. On average, equities analysts expect that Brookfield Renewable Partners L.P. will post -0.88 earnings per share for the current year.

Brookfield Renewable Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a $0.355 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 7.09%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.17%.

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.