The Manufacturers Life Insurance Company Decreases Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

The Manufacturers Life Insurance Company decreased its holdings in shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,036 shares of the utilities provider’s stock after selling 538 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Brookfield Renewable Partners were worth $7,955,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its stake in Brookfield Renewable Partners by 0.4% during the third quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after purchasing an additional 26,189 shares during the last quarter. Mirabella Financial Services LLP increased its position in Brookfield Renewable Partners by 145.2% during the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider’s stock worth $13,153,000 after buying an additional 276,374 shares during the period. MAI Capital Management increased its position in Brookfield Renewable Partners by 294.2% during the third quarter. MAI Capital Management now owns 86,683 shares of the utilities provider’s stock worth $2,443,000 after buying an additional 64,695 shares during the period. Kayne Anderson Capital Advisors LP increased its position in Brookfield Renewable Partners by 105.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 334,822 shares of the utilities provider’s stock worth $9,435,000 after buying an additional 172,028 shares during the period. Finally, Waverton Investment Management Ltd acquired a new position in Brookfield Renewable Partners during the third quarter worth approximately $178,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Analyst Upgrades and Downgrades

BEP has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. CIBC lifted their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.78.

Brookfield Renewable Partners Trading Down 1.8 %

NYSE:BEP opened at $25.15 on Thursday. The stock’s 50 day simple moving average is $26.46 and its 200-day simple moving average is $25.85. Brookfield Renewable Partners L.P. has a 12-month low of $19.92 and a 12-month high of $29.56. The firm has a market cap of $7.17 billion, a P/E ratio of -30.67 and a beta of 0.93. 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 return on equity of 0.24% and a net margin of 1.16%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same period in the prior year, the company earned ($0.14) EPS. Equities analysts anticipate that Brookfield Renewable Partners L.P. will post -0.57 EPS for the current year.

Brookfield Renewable Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date is Friday, November 29th. Brookfield Renewable Partners’s dividend payout ratio is presently -173.17%.

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.