HighTower Advisors LLC lessened its stake in Brookfield Renewable Partners L.P. (NYSE:BEP – Get Rating) (TSE:BEP) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,008 shares of the utilities provider’s stock after selling 18,395 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield Renewable Partners were worth $1,548,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in BEP. Kayne Anderson Capital Advisors LP increased its position in Brookfield Renewable Partners by 16.2% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 2,768,370 shares of the utilities provider’s stock worth $70,150,000 after buying an additional 385,795 shares during the last quarter. JCIC Asset Management Inc. lifted its holdings in shares of Brookfield Renewable Partners by 19.0% during the third quarter. JCIC Asset Management Inc. now owns 2,347 shares of the utilities provider’s stock worth $68,000 after buying an additional 375 shares in the last quarter. Ervin Investment Management LLC boosted its position in shares of Brookfield Renewable Partners by 24.2% in the third quarter. Ervin Investment Management LLC now owns 45,212 shares of the utilities provider’s stock valued at $1,415,000 after acquiring an additional 8,823 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Brookfield Renewable Partners in the third quarter valued at about $2,934,000. Finally, Toronto Dominion Bank grew its position in shares of Brookfield Renewable Partners by 26.5% during the 3rd quarter. Toronto Dominion Bank now owns 2,856,312 shares of the utilities provider’s stock worth $89,517,000 after purchasing an additional 597,823 shares in the last quarter. 57.61% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on BEP shares. National Bankshares lifted their price target on shares of Brookfield Renewable Partners from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. BMO Capital Markets lifted their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, March 28th. Mizuho reduced their target price on Brookfield Renewable Partners from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, April 17th. StockNews.com assumed coverage on Brookfield Renewable Partners in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Scotiabank reiterated a “sector outperform” rating on shares of Brookfield Renewable Partners in a research note on Thursday, April 13th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.56.
Brookfield Renewable Partners Stock Performance
Brookfield Renewable Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be given a dividend of $0.338 per share. The ex-dividend date is Tuesday, May 30th. This represents a $1.35 dividend on an annualized basis and a yield of 4.44%. Brookfield Renewable Partners’s dividend payout ratio is currently -254.72%.
Brookfield Renewable Partners Profile
Brookfield Renewable Partners LP engages in the ownership of a portfolio of renewable power and sustainable solution assets. It operates through the following segments: Hydroelectric, Wind, Utility-Scale Solar, Distributed Energy and Sustainable Solutions, and Corporate. The Distributed Energy and Sustainable Solutions segment includes distributed generation, pumped storage, renewable natural gas, carbon capture and storage, recycling, and cogeneration and biomass.
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