Brookfield Renewable Partners L.P. (NYSE:BEP) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 64.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,312 shares of the utilities provider’s stock after selling 122,358 shares during the period. JPMorgan Chase & Co.’s holdings in Brookfield Renewable Partners were worth $1,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BEP. GAMMA Investing LLC raised its stake in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $28,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $178,000. Barclays PLC increased its position in shares of Brookfield Renewable Partners by 40.6% during 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 acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth about $206,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BEP. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. CIBC boosted their price target on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Thursday, December 12th. UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.44.

Brookfield Renewable Partners Price Performance

Shares of BEP opened at $20.03 on Thursday. Brookfield Renewable Partners L.P. has a twelve month low of $19.92 and a twelve month high of $29.56. The stock’s 50 day moving average is $23.72 and its two-hundred day moving average is $25.00. The firm has a market capitalization of $5.71 billion, a PE ratio of -24.43 and a beta of 0.95. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

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

Brookfield Renewable Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -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.