Lake Street Advisors Group LLC Cuts Stock Holdings in Brookfield Renewable Partners L.P. (NYSE:BEP)

Lake Street Advisors Group LLC lessened its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,348,049 shares of the utilities provider’s stock after selling 58,123 shares during the quarter. Brookfield Renewable Partners makes up about 1.4% of Lake Street Advisors Group LLC’s holdings, making the stock its 18th largest holding. Lake Street Advisors Group LLC’s holdings in Brookfield Renewable Partners were worth $30,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BEP. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $28,000. Allworth Financial LP bought a new stake in Brookfield Renewable Partners during the fourth quarter valued at about $68,000. Waverton Investment Management Ltd purchased a new position in Brookfield Renewable Partners in the third quarter valued at about $178,000. Barclays PLC raised its holdings in Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 2,036 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Brookfield Renewable Partners during the third quarter valued at about $206,000. 63.16% of the stock is currently owned by institutional investors.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $23.12 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The stock has a 50-day moving average of $22.23 and a two-hundred day moving average of $24.50. The stock has a market cap of $6.59 billion, a P/E ratio of -25.98 and a beta of 0.95. Brookfield Renewable Partners L.P. has a one year low of $19.92 and a one year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter in the prior year, the business earned $0.01 earnings per share. As a group, research analysts predict that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current year.

Brookfield Renewable Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Brookfield Renewable Partners’s previous quarterly dividend of $0.36. This represents a $1.49 dividend on an annualized basis and a yield of 6.45%. Brookfield Renewable Partners’s payout ratio is currently -167.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BEP. National Bankshares cut their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Scotiabank lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Tuesday. CIBC lowered their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

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.