Rempart Asset Management Inc. Sells 18,319 Shares of Brookfield Renewable Partners L.P. $BEP

Rempart Asset Management Inc. reduced its position in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,354 shares of the utilities provider’s stock after selling 18,319 shares during the quarter. Brookfield Renewable Partners accounts for approximately 1.3% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 24th largest holding. Rempart Asset Management Inc.’s holdings in Brookfield Renewable Partners were worth $7,153,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BEP. Goldman Sachs Group Inc. raised its holdings in shares of Brookfield Renewable Partners by 57.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 919,693 shares of the utilities provider’s stock valued at $20,380,000 after purchasing an additional 333,789 shares in the last quarter. Bangor Savings Bank bought a new position in Brookfield Renewable Partners in the second quarter worth approximately $153,000. U.S. Capital Wealth Advisors LLC lifted its holdings in Brookfield Renewable Partners by 17.3% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 28,850 shares of the utilities provider’s stock worth $736,000 after buying an additional 4,250 shares during the period. SOA Wealth Advisors LLC. increased its holdings in shares of Brookfield Renewable Partners by 7.4% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 28,270 shares of the utilities provider’s stock valued at $721,000 after acquiring an additional 1,945 shares during the period. Finally, Gold Investment Management Ltd. raised its position in shares of Brookfield Renewable Partners by 3.0% in the 2nd quarter. Gold Investment Management Ltd. now owns 95,158 shares of the utilities provider’s stock worth $2,426,000 after acquiring an additional 2,810 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BEP. UBS Group reaffirmed a “buy” rating and set a $39.00 target price (up from $38.00) on shares of Brookfield Renewable Partners in a report on Friday, December 5th. Royal Bank Of Canada lifted their price target on Brookfield Renewable Partners from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. TD Securities increased their price target on Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Desjardins upgraded Brookfield Renewable Partners to a “hold” rating in a research report on Wednesday, November 26th. Finally, National Bankshares upped their target price on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.86.

Brookfield Renewable Partners Trading Up 1.9%

BEP stock opened at $27.44 on Tuesday. Brookfield Renewable Partners L.P. has a 12-month low of $19.29 and a 12-month high of $32.72. The business’s 50-day moving average is $28.22 and its 200 day moving average is $27.09. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.91. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of -31.91 and a beta of 1.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.22. Brookfield Renewable Partners had a return on equity of 0.66% and a net margin of 3.52%.The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. On average, sell-side analysts anticipate that Brookfield Renewable Partners L.P. will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were given a dividend of $0.373 per share. The ex-dividend date was Friday, November 28th. This represents a $1.49 dividend on an annualized basis and a yield of 5.4%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is presently -173.26%.

Brookfield Renewable Partners 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.